B$.$ $$1,100,000$

c$.$ On January $1,2016,$ a company borrowed cash from the bank by signing a $7-$year, $10\%$ installment note. The present value of an annuity factor at $10\%$ for $7$ years is $4\mathrm{.}8684$ and the present value of a lump$-$sum factor at $10\%$ for $7$ years is $0\mathrm{.}5132.$ Each annual payment equals $$65,730\mathrm{.}01$ on Dec $31$ of every year. The present value of the note is $$320,000.$ The journal entry to record the December $31,2017$ payment would be:

A$.$ Debit Cash $$65,730\mathrm{.}01,$ Credit Interest Expense $$32,000,$ and Credit Notes Payable $$33,730\mathrm{.}01$

B$.$ Debit Cash $$65,730\mathrm{.}01,$ Credit Interest Expense $$28,627,$ and Credit Notes Payable $$37,103\mathrm{.}01$

C$.$ Debit Notes Payable $$33,730\mathrm{.}01,$ Debit Interest Expense $$32,000,$ and Credit Cash $$65,730\mathrm{.}01$

D$.$ Debit Notes Payable $$37,103\mathrm{.}01,$ Debit Interest Expense $$28,627,$ and Credit Cash $$65,730\mathrm{.}01$

F$.$ Debit Notes Payable $$45,714\mathrm{.}29,$ Credit Interest Expense $$20,015\mathrm{.}72,$ and Credit Cash $$65,730\mathrm{.}01$