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Company A sells a machine to Company B on September 1 for $27,000. The down...

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Accounting

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Company A sells a machine to Company B on September 1 for $27,000. The down payment to be paid by Company B is $3,000. Company B must pay monthly minimum payments of $265.12% interest rate per annum on the unpaid balance is deducted from each payment and the baiance is applied to reduce the principal outstanding. Company B makes the following payments to Company A: Prepare a partial amortization schedule in order to answer the following question. in preparing an amortization schedule, what is the balance at the end of December? Mustriple Choice $23.740 $22712 $22,720

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