Problem 10 12A (Part Level Submission) Laverne purchased a new piece of equipment to be used in its new facility The $365,000 piece of equipment was purchased with a $54,750 down payment and with cash received through the issuance of a $310,250, 7 , 5 year mortgage payable issued on January 1, 2017 The terms provide for annual installment payments of $75,667 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 ) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue Date $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount 1 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount 2 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount 3 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount 4 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount 5 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Amount may be off due to rounding Problem 10 12A (Part Level Submission) Laverne purchased a new piece of equipment to be used in its new facility The $365,000 piece of equipment was purchased with a $54,750 down payment and with cash received through the issuance of a $310,250, 7 , 5 year mortgage payable issued on January 1, 2017 The terms provide for annual installment payments of $75,667 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 ) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue Date $ $ $ $ 1 2 3 4 5 Amount may be off due to rounding Click if you would like to Show Work for this question Open Show Work Attempts 0 of 3 used

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Problem 10-12A (Part Level Submission) Laverne purchased a new piece of equipment to be used in its new facility. The $365,000 piece of equipment was

Problem 10-12A (Part Level Submission)

Laverne purchased a new piece of equipment to be used in its new facility. The $365,000 piece of equipment was purchased with a $54,750 down payment and with cash received through the issuance of a $310,250, 7%, 5-year mortgage payable issued on January 1, 2017. The terms provide for annual installment payments of $75,667 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.)

Annual Interest Period	Cash Payment	Interest Expense	Reduction of Principal	Principal Balance
Issue Date	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount	$enter a dollar amount
1	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
2	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
3	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
4	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount
5	enter a dollar amount	enter a dollar amount	enter a dollar amount	enter a dollar amount	^*

^* Amount may be off due to rounding. image text in transcribed

Problem 10-12A (Part Level Submission) Laverne purchased a new piece of equipment to be used in its new facility. The $365,000 piece of equipment was purchased with a $54,750 down payment and with cash received through the issuance of a $310,250, 7%, 5-year mortgage payable issued on January 1, 2017. The terms provide for annual installment payments of $75,667 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.) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue Date $ $ $ $ 1 2 3 4 5 * Amount may be off due to rounding. Click if you would like to Show Work for this question: Open Show Work Attempts: 0 of 3 used