On January 1,2013,Thames Company purchases property and signs a 6-year mortgage note for $60,000 at 4%.Please see the partial amortization schedule below. $$\begin{array} { l l r }
\text { AMORTIZATION SCHEDULE } & \text { Principal } & \$ 60,000.00 \
\text { (partial) } & \text { Rate } & 4.00 \% \
& \text { Payment } & \$ 980.00
\end{array}$$ At January 1,2013,what portion of the balance of the mortgage payable should be shown as a current liability?
A) $11,760.00
B) $9,533.52
C) $2,226.48
D) $50,466.48

Question

On January 1,2013,Thames Company purchases property and signs a 6-year mortgage note for $60,000 at 4%.Please see the partial amortization schedule below. $$\begin{array} { l l r } 
\text { AMORTIZATION SCHEDULE } & \text { Principal } & \$ 60,000.00 \
\text { (partial) } & \text { Rate } & 4.00 \% \
& \text { Payment } & \$ 980.00
\end{array}$$  At January 1,2013,what portion of the balance of the mortgage payable should be shown as a current liability?
A) $11,760.00 
B) $9,533.52 
C) $2,226.48 
D) $50,466.48

Quizplus · Accepted Answer

The Answer of On January 1,2013,Thames Company purchases property and signs a 6-year mortgage note for $60,000 at 4%.Please see the partial amortization schedule below. $$\begin{array} { l l r } 
\text { AMORTIZATION SCHEDULE } & \text { Principal } & \$ 60,000.00 \
\text { (partial) } & \text { Rate } & 4.00 \% \
& \text { Payment } & \$ 980.00
\end{array}$$  At January 1,2013,what portion of the balance of the mortgage payable should be shown as a current liability?
A) $11,760.00 
B) $9,533.52 
C) $2,226.48 
D) $50,466.48

On January 1,2013,Thames Company Purchases Property and Signs a 6-Year