Question: On January 1 , 2 0 1 8 , King Inc. borrowed $ 1 5 0 , 0 0 0 and signed a 5 -

On January 1,2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10% interest rate. Each annual payment is in the amount of $39,569, and payment is due each Dec. 31.
What is the note payable recorded on Dec. 31?
$125,431
$150,000
Insufficient information
$24.569
On January 1 , 2 0 1 8 , King Inc. borrowed $ 1 5

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