On January 1, Year 1, Zero Company obtained a $52,000, 4-year, 6.5% installment note from Regional Bank. The note requires annual payments of $15,179, beginning on December 31, Year 1. The December 31, Year 2 carrying amount in the allocation of periodic payments table for this installment note will be equal to
A) $26,000
B) $27,635
C) $21,642
D) $28,402

Question

On January 1, Year 1, Zero Company obtained a $52,000, 4-year, 6.5% installment note from Regional Bank. The note requires annual payments of $15,179, beginning on December 31, Year 1. The December 31, Year 2 carrying amount in the allocation of periodic payments table for this installment note will be equal to
A) $26,000
B) $27,635
C) $21,642
D) $28,402
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Quizplus · Accepted Answer

11ea84e6_afec_fd34_9a63_35ee46361b5a_TB2281_00_TB2281_00

On January 1, Year 1, Zero Company Obtained a $52,000