Charger Company's most recent balance sheet reports total assets of $31,850,000, total liabilities of $18,850,000 and total equity of $13,000,000. The debt to equity ratio for the period is (rounded to two decimals): On July 1, Shady Creek Resort borrowed $350,000 cash by signing a 10-year, 8.5% installment note requiring equal payments each June 30 of $53,343. What amount of interest expense will be included in the first annual payment? On August 1, a $57,600, 8%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest of $22,350.73. The entry to record the first payment on July 31 would include:

On August 1, a $57,600, 8%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest of $22,350.73. The entry to record the first payment on July 31 would include:

On July 1, Shady Creek Resort borrowed $350,000 cash by signing a 10-year, 8.5% installment note requiring equal payments each June 30 of $53,343. What amount of interest expense will be included in the first annual payment?