Question: Problem 10-5A Talkington Electronics issues a $446,000, 7%, 10-year mortgage note on December 31, 2016 The proceeds from the note are to be used in

used in financing a new research laboratory, The terms of the note

Problem 10-5A Talkington Electronics issues a $446,000, 7%, 10-year mortgage note on December 31, 2016 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 $63,500. 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 PrincipalPrincipal Balance Issue Date 446000

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