Sarasota purchased a new piece of equipment to be used in its new facility. The $416,000 piece of equipment was purchased with a $49,000 down payment and with cash received through the issuance of a $367,000, 6%, 5-year mortgage payable issued on January 1, 2022. The terms provide for annual installment payments of $87.125 on December 31. (a) Prepare an installment payments schedule for the five payments of the notes payable. (Round answers to O decimal places, e.g. 15,250.) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Bal Issue Date 1 2 3 4 $ I Prepare an installment payments schedule for the five payments of the notes payable. (Round answers to O decimal places, e.g. 15,250.) Cash Payment Interest Expense Reduction of Principal 1A A Principal Balance