Question: Transco signed a 9-year note payable on January 1, 2018, of $900,000. The note requires annual principal payments each December 31 of $100,000 plus interest

Transco signed a 9-year note payable on January 1, 2018, of

Transco signed a 9-year note payable on January 1, 2018, of $900,000. The note requires annual principal payments each December 31 of $100,000 plus interest at 10%. The entry to record the annual payment on December 31, 2022, includes O A. a credit to Cash of $190,000. OB. a debit to Interest Expense for $90,000 OC. a debit to Interest Expense for $50,000. OD. a credit to Notes Payable for $100,000

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