Shamrock Farms Ltd. needed financing to buy two John Deere tractors. Shamrock receives $250,000 on December 31, 2021, when it issues a 10-year, 6% note payable. The terms provide for semi-annual blended instalment payments on June 30 and December 31 in the amount of $16,804.00.

Collapse question part (a) Prepare an instalment payment schedule for the first four interest periods. (Round answers to 2 decimal places, e.g. 5,276.25.)

SHAMROCK FARMS LTD. Instalment Payment Schedule - Blended Payments

Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance

Dec. 31, 2021

June 30, 2022

Dec. 31, 2022

June 30, 2023

Dec. 31, 2023