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A1. The Centrum borrowed $48,000 on January 2, 2017. Payments are made 1 point annually for five years each January 2. (See Exhibit 1.0) Interest

A1. The Centrum borrowed $48,000 on January 2, 2017. Payments are made 1 point annually for five years each January 2. (See Exhibit 1.0) Interest Payable $2880 Cash $11,395 Current portion of long-term note payable $8515 Notes Payable $8515 Interest Receivable $2880 27

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