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Collins Company borrowed $1,250,000 from BankTwo on January 1, 2024 in order to expand its mining capabilities. The five year note required annual payments of

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Collins Company borrowed $1,250,000 from BankTwo on January 1, 2024 in order to expand its mining capabilities. The five year note required annual payments of $325,545 and carried an annual interest rate of 9.5%. What is the balance in the notes payable account at December 31, 2025 after the annual payment? $816,765. $1,043,205. $1,250,000 $1,012,500

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