Question: 1 On August 1, a $31,200, 7%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued

1 On August 1, a $31,200, 7%, 3-year installment note payable

1 On August 1, a $31,200, 7%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest of $11.888.81. The entry to record the first payment on July 31 would include: 2 points Multiple Choice 00:53:39 Debit to Notes Payable of $11.888.81 O Print Debit to Interest Expense of $2,184.00. Debit to Cush of $11,888.81. Credit to Notes Payable of $11,888.81

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