Business, 19.05.2021 19:10 jbryant071405
Sabrina Company borrowed $225,000 to buy an equipment on January 1, 2019, and signed a 7% instalment note requiring annual equal payments of $24,704, including principal and interest at the end of every year for 15 years. Rounded to the nearest dollar, determine the balance in the Instalment Note Payable account on January 1, 2021, after making the first two annual payments.
a. $189,613.
b. $206,466.
c. $199.194.
d. $216,046.
Answers: 1
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Sabrina Company borrowed $225,000 to buy an equipment on January 1, 2019, and signed a 7% instalment...
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