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On March 1, 2018, Mandy Services issued a 4% long-term notes payable for $21,000. It is payable over a 3-year form in $7,000 principal installments

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On March 1, 2018, Mandy Services issued a 4% long-term notes payable for $21,000. It is payable over a 3-year form in $7,000 principal installments on March 1 of each year, beginning March 1, 2019 Each yearly installment will include both principal repayment of $7.000 and interest payment for the preceding one-year period. What is the amount of total cash payment that Mandy will make on March 1, 20192 O A $7,000 OB. $7,840 OC. $21,000 OD $7420

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