Question: The Platte Corporation issues a 5 -year note payable on January 1 , Year 1 for $5,000. The interest fate is 5% and the annual

The Platte Corporation issues a 5 -year note payable on January 1 , Year 1 for $5,000. The interest fate is 5% and the annual payment of $1,156, due each December 31 . includes both interest and principal. Which of the following shows the effect of the December 31 , Year 1 payment? Multiple Cholce Cholce A choice 0 Choice C

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