Question: true or false: explain why 1. In each succeeding payment on an installment note the amount of interest expense decreases. 2. In the initial journal

true or false: explain why

1. In each succeeding payment on an installment note the amount of interest expense decreases.

2. In the initial journal entry used to record quality assurance warranty we don't recognize a contingent liability, instead we recognize deferred revenue.

3. The interest expense on an installment decreases with each period payment.

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