$2$

$1$ point

On December $1,2022,$ Barnes Inc. borrows $$100,000$ in the form of an installment loan to purchase a new building. The interest rate on the loan is $6\%$ per year and the required payments are $$800$ per month $($paid on last day of the month$).$ What is the carrying value of the company's installment loan $($Note Payable account only, NOT the related Interest Payable$)$ reported on the December $31,2022$ balance sheet?

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