On March 1, 2024, Everson Services issued a 9% long - term notes payable for $24,000. It is payable over a 6 -year term in $4,000 annual principal payments on March 1 of each year plus interest, beginning March 1,2025 . Each yearly installment will include both principal repayment of $4,000 and interest payment for the preceding one - year period. On March 1, 2025 The accounting period ends on December 31 . A. Everson must pay $2,160 of interest to the note holder B. Everson must accrue $4,000 of Interest Expense C. Everson will receive $4,000 as an installment payment D. Everson must accrue the next note payment of $4,000 as the current portion of principal payment