On January 1, 2024, Crown Company sold property to Leary Company. There was price for the property, and Leary gave Crown a $5,000,000 zero-interest-bearing annual installments of $800,000, with the first payment due December 31, 2024 interest for a note of this type is 9%. The present value of the note at 9% was $3 What should be the balance of the Discount on Notes Payable account on the bo 2043 after adjusting entries are made, assuming that the effective-interest meth O $0 O $1,608,225 O $1,395,000 O $1888,280

On January 1, 2024, Crown Company sold property to Leary Company. There wa price for the property, and Leary gave Crown a $5,000,000 zero-interest-bearing annual installments of $800,000, with the first payment due December 31, 2024 interest for a note of this type is 9%. The present value of the note at 9% was $3 What should be the balance of the Discount on Notes Payable account on the b 2043 after adjusting entries are made, assuming that the effective-interest meth $0 $1,608,225 $1,395,000 $1888,280