2 1 pts Woods Company issued an installment note payable on January 1, Year 1, in the amount of $60,000, with an interest rate of 8%, and 6 payments of $12,979, due on December 30 of each of year. On the Year 1 financial statements, what balance will Woods report for the note payable? $51,821 $60,000 O $47,021 $12,979 $55,200