On November 1, 2016, EZ Products borrowed $64,000 on a 5%, 5-year note with annual installment payments of $12,800 plus interest due on November 1 of each succeeding year
On November 1, 2018, what is the balance of the Long-Term Notes Payable account? (Round your answer to nearest whole number.)
A) $38,400
B) $64,000
C) $51,200
D) $12,800
A .Long-term notes payable = $64,000 - $12,800 - $12,800 = $38,400
Business
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