Multiple Choice
In October,the CEO of Saguaro,Inc.signs a note for $90,000 in order to buy new equipment.The note is due in five years,at 8% annual interest.Semiannual interest payments are due each April and October.Assuming no other long-term debt,what is the initial balance in the related long-term debt account?
A) $82,800
B) $90,000
C) $93,600
D) $97,200
Correct Answer:
Verified
Correct Answer:
Verified
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