Under the Equal Total Payments Model for Instalment Notes

Multiple Choice

Under the equal total payments model for instalment notes:

A) The note payable is reduced in equal amounts with each payment made
B) More interest expense is booked in comparison to the accrued interest and equal principal payment model
C) Equal interest expense is booked in comparison to the accrued interest and equal principal payment model
D) The note payable is not reduced in equal amounts with the final payment made
E) Less interest expense is booked in comparison to the accrued interest and equal principal payment model