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Problem 10-07A (Part Level Submission) Sunland Company issues a $402,000, 10%, 10-year mortgage note on December 31, 2019. The proceeds from the note are to

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Problem 10-07A (Part Level Submission) Sunland Company issues a $402,000, 10%, 10-year mortgage note on December 31, 2019. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for annual installment payments, exclusive of real estate taxes and insurance, of $65,424. Payments are due on December 31. Prepare an installment payments schedule for the first 4 years. (Round answers to decimal places, eg. 15,250.) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue Date Click if you would like to show Work for this question! Madily Show Work

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