On March 1, 2024. Everson Services issued a 4% long - term fotes payabie for 523,000 : I is payable over a 4 - year torm in 55 , 750 annual peincipal payments on March 1 of each yoar plus interest, beginning March 1, 2025. Each yearly mstallment wil inchude both poncipal repayment of 55,750 and aterest payment for the preceding one - year period. On March 1, 2025 The accounting period onds on Deceinber 31 A. Everson must accrue $5,750 ot Interest Expense B. Everson must accrue the next note payment of 55.750 as the current portion of principal payment C. Everson must pay $920 of interest to the note holder D. Everson will tocewo $5,750 as an instilinent paymem