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Sunland Company receives $385,000 when it issues a $385,000,8%, mortgage note payable to finance the construction of a building at December 31, 2017. The terms

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Sunland Company receives $385,000 when it issues a $385,000,8%, mortgage note payable to finance the construction of a building at December 31, 2017. The terms provide for annual installment payments of $44.979 on December 31. Prepare an amortization schedule of a mortgage note for two years. (Round answers to decimal places, e.g. 5,275.) Annual interest Period Cash Payment Interest Expense Reduction of Principal Princip: Balanc ssue ate $ $ $ 2/31/18 2/31/19

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