Question: Q4. Colt Electronics issues an $600,000, 12%, 10-year mortgage note on December 31, 2010, to help finance a plant expansion program. The terms provide for

Q4. Colt Electronics issues an $600,000, 12%, 10-year mortgage note on December 31, 2010, to help finance a plant expansion program. The terms provide for semiannual installment payments, not including real estate taxes and insurance, of $44,149. Payments are due June 30 and December 31. Instructions: (a) Prepare an installment payments schedule for the first 2 years. (b) Prepare the entries for the first two installment payments

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