What is wrong with my Update Query in Drupal 6.x?

Question

There is mixed documentation that I am seeing and thus am confused.

db_query(
  'UPDATE {db} SET principlename="%s", schoolname="%s", address1="%s", address2="%s", city="%s",
  computerserialno="%s", state="%s", zipcode="%s", terminalid="%s", admin_first_name="%s", admin_last_name="%s",
  admin_email="%s", admin_phone="%s" WHERE userid=%d', $principlename, $schoolname, $address1, $address2, $city, $computerserialno, $state, $zipcode,
  $terminalid, $admin_first_name, $admin_last_name, $admin_email, $admin_phone, $user->uid
);