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On November 1, 2024, A-1 Products borrowed $57,000 on a 8%, 5-year note with annual installment payments of $11,400 plus interest due on November
On November 1, 2024, A-1 Products borrowed $57,000 on a 8%, 5-year note with annual installment payments of $11,400 plus interest due on November 1 of each succeeding year. On November 1, 2026, after the installment payment is made, what is the balance of the Long-Term Notes Payable account? (Round your answer to nearest dollar.) A) $45,600 B) $34,200 C) $57,000 OD) $11,400
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