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Sunland Inc. received a five-year bank loan bearing interest at 7% with principal and interest instalment payments due annually. The following instalment payment schedule is

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Sunland Inc. received a five-year bank loan bearing interest at 7% with principal and interest instalment payments due annually. The following instalment payment schedule is partially completed: (a) Fill in the missing amounts. Cash Payment Interest Expense Reduction of Principal Principal Balance $62,000 $ $15,122 $10,782 51,218 15122 3,585 39,681 15122 12,344 15122 1,914 14,129 15122 993 14,129

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