Use the Following Information to Answer Questions
Mars Company

Short Answer

Use the following information to answer questions
Mars Company signed a six-month note payable for $20,000 on December 1, 2010 with an interest rate of 6%.The first payment of $3,391.91 is due on January 1, 2011.
-What are the liabilities related to this note on the December 31, 2010 balance sheet? $\begin{array}{llr}&\text { Interest Payable }&\text { Note Payable }\\\hline\text { a. } & \$ 100.00 & \$ 20,000.00 \\\text { b. } & \$ 600.00 & \$ 20,000.00 \\\text { c. } & \$ 100.00 & \$ 3,291.91 \\\text { d. } & \$ 600.00 & \$ 20,351.46\end{array}$