Question: TB MC Qu . 1 0 - 1 2 3 ( Algo ) On July 1 , Shady Creek Resort borrowed... On July 1 ,

TB MC Qu.10-123(Algo) On July 1, Shady Creek Resort borrowed...
On July 1, Shady Creek Resort borrowed $290,000 cash by signing a 10-year, 10% installment note requiring equal payments each June 30 of $47,196. What amount of interest expense will be included in the first annual payment?
Multiple Choice
$29,000
$19,000
$18,196
TB MC Qu . 1 0 - 1 2 3 ( Algo ) On July 1 , Shady

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