On January 1, Year 1, Scores or Oars, Inc., borrowed $500,000 at 2%. The loan will be repaid with equal annual installment payments of $30,000 made on the last day of each year, which is the company's yearend. The first payment will include a debit to Notes Payable of $______.
a. 20000
b. 25000
c. 26000
d. 30000
Ans: a. 20000
Business
You might also like to view...
If a manager is rash in firing an employee and does not use progressive discipline for an underperforming employee, he/she may be falling victim to the
a. halo error. b. horn error. c. recency error. d. primacy error.
Business
A portfolio test is often used for copytesting
Indicate whether the statement is true or false
Business