Multiple Choice
On November 1,2012,EZ Products borrowed $48,000 on a 5%,10-year note with annual installment payments of $4,800 plus interest due on November 1 of each succeeding year.
-On December 31,2013,what will the balance be in the account titled Current portion of long-term notes payable?
A) $400
B) $48,000
C) $43,200
D) $4,800
Correct Answer:
Verified
Correct Answer:
Verified
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