Tamarisk Farms Ltd. needed financing to buy two John Deere tractors. Tamarisk receives $280,000 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 $20,358.00.

Prepare an instalment payment schedule for the first four interest periods. (Round answers to 2 decimal places, e.g. 5,276.25.) TAMARISK FARMS LTD. Instalment Payment Schedule - Blended Payments Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Dec. 31, 2021 280,000 June 30, 2022 th