Question: Greenco signed a 9 year note payable on January 1, 2018, of $765,000. The note requires annual principal payments each December 31 of 585,000 plus
Greenco signed a 9 year note payable on January 1, 2018, of $765,000. The note requires annual principal payments each December 31 of 585,000 plus interest at 14%. The entry to record the annual payment on December 31, 2020, includes O A. a credit to Notes Payable for $85,000 OB. a debit to Interest Expense for $107, 100 OC a credit to Cash of S192.100 OD. a debit to interest Expense for $83,300
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