Question: Discountco signed a 15-year note payable on January 1, 2018, of $900,000. The note requires annual principal payments each December 31 of $60,000 plus interest

Discountco signed a 15-year note payable on January 1, 2018, of $900,000. The note requires annual principal payments each December 31 of $60,000 plus interest at 14%. The entry to record the annual payment on December 31, 2022, includes

O A. a credit to Notes Payable for $60,000. B. a credit to Cash of $186,000. C. a debit to Interest Expense for $92,400. OD. a debit to Interest Expense for $126,000

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