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On November 1, 2018, EZ Products borrowed $48,000 on a 5%, 10-year note with annual installment payments of $4,800 plus interest due on November 1

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On November 1, 2018, EZ Products borrowed $48,000 on a 5%, 10-year note with annual installment payments of $4,800 plus interest due on November 1 of each succeeding year. On December 31, 2018, what will the balance be in the account titled Current portion of long-term notes payable? A. $400 B. $48,000 C. $43,200 D. $4,800

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