On January 1,2011,Ajax Corporation signed a $1,000,000,7%,10-year mortgage note to buy a new warehouse.The note will be repaid in 10 equal annual installments of $142,378.Over the 10-year period,as each installment payment is made,the amount that Ajax Corporation will show on its balance sheet for mortgage payable will ________.
A) increase
B) decrease
C) stay the same
D) The answer cannot be determined from the information given.
Correct Answer:
Verified
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