Refer to Bosworth Corporation. What will be the note balance at December 31, Year 1?

A) $703,426
B) $704,439
C) $798,474
D) $750,000

Answer: A
Explanation: A)

$694,799
June 30 Year 1
$37,500
$41,688
$4,188
$698,987
Dec 31 Year 1
37,500
41,939
4,439
703,426

Business

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