Question: Prob 10-5B (Problems ending in A are in textbook: B prob only below) P10-5B Crosetti's Electronics issues an $800,000, 8%, 10-year mortgage note on December

Prob 10-5B (Problems ending in "A" are in textbook: "B" prob only below) P10-5B Crosetti's Electronics issues an $800,000, 8%, 10-year mortgage note on December 31, 2017, to help finance a plant expansion program. The terms of the note provide for annual installment payments, exclusive of real estate taxes and insurance, of $119,224. Payments are due on December 31. Instructions (a) Prepare an installment payments schedule for the first 4 years. Problem 10-5B ... working papers Annual Interest Cash Interest Expense Period Payment Issue Date 1 2 Reduction of Principal Balance Principal 800,000 3 3 4

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