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Sheridan Electronics issues a $376,500, 38, 10-year mortgage note on December 31, 2021. The proceeds from the note are to be used in financing a

image text in transcribed Sheridan Electronics issues a $376,500, 38, 10-year mortgage note on December 31, 2021. 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 $44,137. Payments are due on December 31. (a) Prepare an installment payments schedule for the first 4 years. (Round answers to O decimal places, eg. 15,250) Cash Payment $ Interest Expense Reduction of Principal 3 Principal Balance

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