On November 1, 2024, a company signed a $109,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2025. The company recorded accrued interest on December 31, 2024. The payment of the note and interest on May 1, 2025, causes assets to decrease by $112,270 and which of the following? (Do not round your intermediate calculations.) Multiple Choice Liabilities to decrease by $109,000 and stockholders equity to decrease by $6,540. Liabilities to decrease by $112,270. Liabilities to decrease by $110,090 and stockholders equity to decrease by $2,180. Liabilities to decrease by $113,360 and stockholders equity to decrease by $2,180.

On November 1,2024 , a company signed a $109,000,6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2025. The company recorded accrued interest on December 31, 2024. The payment of the note and interest on May 1, 2025, causes assets to decrease by $112,270 and which of the following? (Do not round your intermediate calculations.) Multiple Choice Liabilities to decrease by $109,000 and stockholders' equity to decrease by $6,540. Liabilities to decrease by $112,270. Liabilities to decrease by $110,090 and stockholders' equity to decrease by $2,180. Liabilities to decrease by $113,360 and stockholders' equity to decrease by $2,180