Problem 10-5A (Part Level Submission) Talkington Electronics issues a $353,100, 14%, 10-year mortgage note on December 31, 2014. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for semiannual installment payments, exclusive of real estate taxes and insurance, of $33,330. Payments are due June 30 and December 31. Your answer is correct. Prepare an installment payments schedule for the first 2 years. (Round answers to O decimal places,e.g. 15,250.) emiannual Interest Peri Interest Expense Reduction of Principal Principal Balance Cash Payme Issue Date 353,100 344,487 335,271 325,410 314,859 8,613 9,216 9,861 10,551 33,330 33,330 33,330 33,330 24,717 24,114 23,469 22,779 Prepare the entries for (1) the loan and (2) the first two installment payments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Debit DateAccount Titles and Explanation Credit Dec. 31, 2014 TCasth 353,100 353,100 Mortgage Payable June 30, 2015 interest Expense 24,717 8,613 Mortgage Payable Cash 33,330 Dec. 31, 2015 Interest Expense 24,114 9,216 Mortgage Payable Cash 33,330 (c) Show how the total mortgage liability should be reported on the balance sheet at December 31, 2015. (For Bonds Payable, Notes Payable and Mortgage payabl enter the account name only and do not provide any additional descriptive information e.g. due 2023.) Talkington Electronics Balance Sheet December 31, 2015 SHOW LIST OF ACCOUNTS LINK TO TEXT