Question: A note payable already on the books is a 12-year, 6% interest-bearing note that is next due to be paid on 11/1/22. Part of the

A note payable already on the books is a 12-year, 6% interest-bearing note that is next due to be paid on 11/1/22. Part of the principle is payable annually on November 1 in equal $5,000 installments in addition to the years interest. The last payment of interest and principle was paid on 11/1/21 and it was booked on that date.

What needs to recorded for Dec 2021?

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