On January 1, 2011, Dew Drop Inn borrowed $80,000 at 8% interest. The loan will be repaid with equal annual installment payments of $8,900 made on the last day of each year, which is the companys yearend. Notes payable at December 31, 2011 equals ________. (Points : 2) 1. $80,000 on the balance sheet 2. $77,500 on the balance sheet 3. $75,958 on the balance sheet 4. $80,000 on the income statement