What is the outstanding balance after payment #9?
A) $ 8,929.
B) $13,463.
C) $ 5,000.
D) $ 5,537.Step 1 Interest = 12% $16,901 = $2,028 Step 2 Decrease in balance = $10,000 2,028 = $7,972
Step 3 Ending balance = $16,901 7,972 = $8,929
Correct Answer:
Verified
Q23: Which of the following is not among
Q34: If the lessor records unearned rent at
Q39: What is the effective annual interest rate
Q41: P Corp. leased an asset to L
Q44: What is the total interest over the
Q45: When a lease qualifies as a capital
Q45: What is the effective annual interest rate?
A)9%.
B)10%.
C)11%.
D)20%.$2,660
Q46: L Corp. recorded a capital lease in
Q47: M Corp. recorded a capital lease in
Q48: What would the lessee record as annual
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents