Question
Sunland Electronics issues a $358,500, 5%, 10-year mortgage note on December 31, 2021. The proceeds from the note are to be used in financing
Sunland Electronics issues a $358,500, 5%, 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 $46,427. Payments are due on December 31. 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 Principal Balance 358500 46427 25095 $ 21332 337168 46427 23338 23089 335411 46427 21704 24723 333777 46427 20185 26242 332258 eTextbook and Media Hrt of Account
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