Problem 15-04A a-c (Video) Sheridan Electronics issues a $376,500, 3%, 15-year mortgage note on December 31, 2019. The proceeds from the note are to be annual installment payments, exclusive of real estate taxes and insurance, of $44,137. Payments are due on December 31. Prepare an installment payments schedule for the first 4 years. (Round answers to 0 decimal places, e.g. 15,250.) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue Date $ 376500 1 44137 $ 11295 $ 32842 343658 2 44137 10310 33827 3 309831 44137 9295 34842 274989 44137 8250 35887 239102 SHOW LIST OF ACCOUNTS LINK TO TEXT 1, 2019. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for -7. Payments are due on December 31. decimal nlaces. e. g. 15,250.) Prepare the entries for (1) the loan and (2) the first installment payment. (Credit account titles are automatically decimal places, e.g. 15,250. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT