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On March 1, 2024, Everson Services issued a 10% lomg-1erm notes payable for $18,000 it is payable over a 3 -year ferm in $6,000 annual
On March 1, 2024, Everson Services issued a 10% lomg-1erm notes payable for $18,000 it is payable over a 3 -year ferm in $6,000 annual principal payments on March 1 of each year plus interest, beginning March 1, 2025. Each yearly installmint will inckide beth principal repayment of 56,000 and interest payment for the preceding one - year pariod On March 1.2025. The acounting period ends on December 31 A. Everson must accrue the next note payment of $6.000 as the current portion of principal payment B. Everson will recelve $6,000 as an installment payment C. Everson must pay $1,800 of interest to the note holder D. Everson must accrue $6,000 of interest Expense
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