Multiple Choice
In October,you borrow $50,000 in order to buy new equipment.The loan is repayable in five years,at 8% annual interest.Semiannual interest payments are due each March and September.Assuming no other long-term debt,what is the initial balance in the long-term debt account?
A) $54,000
B) $50,000
C) $46,000
D) $52,000
Correct Answer:
Verified
Correct Answer:
Verified
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