On Corporation plans to borrow $600,000 from the Scotland State Bank by signing a 6%, 15-year note March 1, Hugh payable. The note calls for 180 monthly payments of $5.060, which includes both interest and principal components Hugh's budgeted debt service cost of $5,060 in March, the amount applied to the principal of the note totals Multiple Choice 3,000. $2,060 $5,060 $200