Question: Sheridan Electronics issues a $376,500, 3%, 10-year mortgage note on December 31, 2021. The proceeds from the note are to be used in financing

a new research laboratory. The terms of the note provide for annual

Sheridan Electronics issues a $376,500, 3%, 10-year mortgage note on December 31, 2021. 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 $44,137. Payments are due on December 31. Prepare an installment payments schedule for the first 4 years. (Round answers to O decimal places, eg. 15,250) Annual Interest Period Cash Payment Issue Date 1 $ Interest Expense Reduction of Principal Principal

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