Problem 15-04A a-c (Part Level Submission) (Video) Sunland Electronics issues a $448,500, 7%, 15-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 $63,856. Payments are due on December 31. Collapse question part (a) Correct answer. Your answer is correct. Prepare an installment payments schedule for the first 4 years. (Round answers to 0 decimal places, e.g. 15,250.) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue Date $Entry field with correct answer 1 $Entry field with correct answer $Entry field with correct answer $Entry field with correct answer Entry field with correct answer 2 Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 3 Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 4 Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Attempts: 5 of 5 used Collapse question part (b) Correct answer. Your answer is correct. Prepare the entries for (1) the loan and (2) the first installment payment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 15,250. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Attempts: 3 of 5 used Collapse question part (c) Partially correct answer. Your answer is partially correct. Try again. Show how the total mortgage liability should be reported on the balance sheet at December 31, 2020. (Enter account name only and do not provide descriptive information. Round answers to 0 decimal places, e.g. 15,250.) Sunland Electronics Balance Sheet (Partial) Entry field with correct answer Entry field with correct answer Entry field with correct answer $Entry field with incorrect answer Entry field with correct answer Entry field with incorrect answer $Entry field with incorrect answer