On January 1,2011,Dew Drop Inn borrowed $80,000 at 8% interest.The loan will be repaid with equal annual installment payments of $8,900 made on the last day of each year,which is the companys yearend.Notes payable at December 31,2011 equals ________.
A)$80,000 on the income statement
B)$80,000 on the balance sheet
C)$75,958 on the balance sheet
D)$77,500 on the balance sheet

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The Answer of On January 1,2011,Dew Drop Inn borrowed $80,000 at 8% interest.The loan will be repaid with equal annual installment payments of $8,900 made on the last day of each year,which is the companys yearend.Notes payable at December 31,2011 equals ________.
A)$80,000 on the income statement
B)$80,000 on the balance sheet
C)$75,958 on the balance sheet
D)$77,500 on the balance sheet

On January 1,2011,Dew Drop Inn Borrowed $80,000 at 8% Interest