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On July 1, 2021, a company signs a 15-year 8% note for an office building. Note payments of $14,457 are due every six months. The

On July 1, 2021, a company signs a 15-year 8% note for an office building. Note payments of $14,457 are due every six months. The note was recorded at $249,991. When the company made the first payment on 12/31/21 - how much did they debit Notes Payable?

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$5,542.

$1,157.

$14,457.

$4,457.

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