ces Measurement (during the year): With each payment on an installment note payable Multiple Choice O O The balance of Notes Payable decreases by the amount of the payment. Interest Expense is recorded for the amount of the payment. A portion of the payment is recorded as a reduction in Notes Payable and a portion is recorded as Interest Expense.

Measurement (during the year): With each payment on an installment note payable Multiple Choice The balance of Notes Payable decreases by the amount of the payment. Interest Expense is recorded for the omount of the payment. A portion of the payment is recorded as o reduction in Notes Poyable and a portion is recorded as Interest Expense