Question: 19 On August 1, a $55,200,9%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest

On August 1, a $55,200,9%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest of $21,807.02. The entry to record the first payment on July 31 would include: Multiple Choice Debit to interest Expense of $4.968,00 Credit to Notes Payable of $21,80702 Credit to Cash $16,839.02 O Debit to Cash of $2180702 Debit to Notes Payable of $21,80702

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