On 1 January 2017,Bratios Company purchases equipment and signs a 6-year mortgage payable for $110,000 at 15%.The mortgage will be paid in equal annual instalments of $29,066,beginning 1 January 2018.Calculate the balance of the Mortgage payable account after the payment of the first instalment.
A)$16,500
B)$82,983
C)$80,934
D)$97,434

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The Answer of On 1 January 2017,Bratios Company purchases equipment and signs a 6-year mortgage payable for $110,000 at 15%.The mortgage will be paid in equal annual instalments of $29,066,beginning 1 January 2018.Calculate the balance of the Mortgage payable account after the payment of the first instalment.
A)$16,500
B)$82,983
C)$80,934
D)$97,434

On 1 January 2017,Bratios Company Purchases Equipment and Signs a 6-Year