exercise 10-29 wildhorse co. receives $372,000 when it issues a $372,000, 10%, mortgage note payable to finance the construction of a building at December 31, 2022. The terms provide for annual imstallment payments of 62,000 on December 31.

(al) Prepare an amortization schedule of a mortgage note for two years. Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue date 12/31/23 12/31/24