View Policies Current Attempt in Progress Cullumber Electronics issues a R$416,000, 5%, 10-year mortgage note on December 31, 2019. 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 R$53,874. Payments are due on December 31. Prepare an installment payments schedule for the first 4 years. (Round answers to O decimal places, e.g. 15,250.) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal 1 2 3 4 Issue Date Prepare the entries for (1) the loan and (2) the first installment payment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 15,250. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation eTextbook and Media List of Accounts Debit Cred Show how the total mortgage liability should be reported on the statement of financial position at December 31, 2020. (Enter account name only and do not provide descriptive information. Round answers to O decimal places, e.g. 15,250.) Cullumber Electronics Statement of Financial Position (Partial) R$ R$