In October,you Borrow $50,000,repayable in Five Years,at 8% Annual Interest,in

Multiple Choice

In October,you borrow $50,000,repayable in five years,at 8% annual interest,in order to buy new equipment.In March and again in September of the following year you pay half the annual interest to your creditors.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