Accounting MCQ
Accounting
A company issues a $200,000, 5%, six-year note on January 1, 2021. If the monthly payment is $3,220.99, by how much will the carrying value decrease when the first month's payment is made on January 31, 2021?
A company issues a $200,000, 5%, six-year note on January 1, 2021. If the monthly payment is $3,220.99, by how much will the carrying value decrease when the first month's payment is made on January 31, 2021?
A company issues a $200,000, 5%, six-year note on January 1, 2021. If the monthly payment is $3,220.99, by how much will the carrying value decrease when the first month's payment is made on January 31, 2021?
A) $4,054.32
B) $2,387.66
C) $3,220.99
D) $833.33
Answer: B
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