Sheridan Inc. received a five-year bank loan bearing interest at 7% with principal and interest instalment payments due annually. The following instalment payment schedule is partially completed: (a) Fill in the missing amounts. Cash Payment $12.683 12.683 12.683 12.683 12.683 Interest Expense 3.007 1,605 833 Reduction of Principal $9,043 10,353 11,850 Principal Balance $52,000 42.957 33.281 11.850

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