Problem 10-12A (Part Level Submission) Laverne purchased a new piece of equipment to be used in its new facility. The $350,000 piece of equipment was purchased with a $52,500 down payment and with cash received through the issuance of a $297,500, 796, 5-year mortgage payable issued on January 1, 2017. The terms provide for annual installment payments of $72,557 on December 31 ? (a) Prepare an installment payments schedule for the first five payments of the notes payable. (Round answers to 0 decimal places, e.g. 125.) Principal Expense_of Principal Balance Annual Cash Interest Reduction Interest Period Payment Issue Date 3 4 *Amount may be off due to rounding Attempts: 0 of 3 used