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Randy Industries purchased a supply of electronic components from Tomorrow Corporation on October 31,2021.In payment for the$1,060,000 million purchase,Randy industries issued a 1-year installment note

Randy Industries purchased a supply of electronic components from Tomorrow Corporation on October 31,2021.In payment for the$1,060,000 million purchase,Randy industries issued a 1-year
installment note to be paid in equal monthly payments of 94,180 at the end of each month.The payments include interest at the rate of 12%.What is the balance of notes payable on December 31,
2021 balance sheet?

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