on january 1 year 1 kase borrowed 476,259 on a 5 year 7.3% installment note payable. the terms of the note require kase to pay 5 equal payments each december 31 for 5 years.

1.the notes payable balance at the end of december 31 year 3 is

a. 124,990

b.210,823

c.242,080

d.109,124

2. the cumulative interest expense through the end of July 31 year 3 is

a. 22,309

b.101,223

c.63,524

d.85,833

3.the cash balance at the end of December 31 year 2 is

a. 210,823

b.124,990

c.242,080

d.109,124