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Which of the following statements is correct regarding the first two monthly payments of a typical installment note? Multiple Choice The amounts for cash paid,

Which of the following statements is correct regarding the first two monthly payments of a typical installment note?

Multiple Choice

The amounts for cash paid, interest expense, and decrease to liabilities are the same for both payments.

Cash paid is less for the first payment.

Liabilities decrease more for the first payment.

Interest expense is greater for the first payment.

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