the company borrowed $140000 on a 3-year, 5% installment note payable. The terms of the note require the company to make equal payments of $51,409 each december 31 for 3 years.

The company borrowed $140,000 on a 3-year, 5% installment note payable. Feb. 1 The terms of the note require the company to make equal payments of $51,409 each December 31 for 3 years. The company borrowed $140,000 on a 3-year, 5% installment note payable. Feb. 1 The terms of the note require the company to make equal payments of $51,409 each December 31 for 3 years