An installment payment for a notes payable is calculated by dividing the note payable amount by the: Select one: 

a. Future value of an annuity of $1 for n periods at i% 

b. Present value of an annuity of $1 

c. Present value of an annuity of $1 for n periods at i% 

d. Present value of an annuity of $1 at i%

How is a five-year, $50,000, 10% bond issued at par reported on the issuer's balance sheet? Select one: 

a. Current liability of $50,000 until the bond's maturity 

b. Current liability of $10,000 and long-term liability of $40,000 until the bond's maturity 

c. Long-term liability of $50,000 until the bond's maturity 

d. Reported on the notes to the financial statements only, not on the balance sheet