Question
On January 1, Zero Company obtained a $52,000, 4-year, 6.5% installment note from Regional Bank. The note requires annual payments consisting of principal and interest
On January 1, Zero Company obtained a $52,000, 4-year, 6.5% installment note from Regional Bank. The note requires annual payments consisting of principal and interest of $15,179, beginning on December 31 of the current year. The December 31, Year 1 carrying amount in the allocation of periodic payments table for this installment note will be equal to:
$36,821
$27,635
$40,201
$39,000
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Management Accounting A Business Planning Approach
Authors: Noah P. Barsky, Jr. Anthony H. Catanach
2nd Edition
1516506286, 978-1516506286
