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On November 1, 2024, A - 1 Products borrowed $61,000 on a 12%,10 - year note with annual installment payments of $6,100 plus interest due

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On November 1, 2024, A - 1 Products borrowed $61,000 on a 12%,10 - year note with annual installment payments of $6,100 plus interest due on November 1 of each succooding yoar. On November 1, 2026, atter the instaliment payment is made, what is the balance of the Long - Term Notes Payable account? (Round your answer to nearest dollar.) A. $6,100 B. $61,000 C. $48,800 D. $54,900

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