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Company A sets a machine to Company on September 1 for $27000. The down payment...

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Accounting

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Company A sets a machine to Company on September 1 for $27000. The down payment to be paid by Company 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 balance is applied to reduce the principal outstanding Company O makes the following payments to Company A October 1 November 1 December 1 January 2 $ 500 5 Seo $1,000 $ 500 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? Multiple Choice O 522,720 None of the other ones are corred S 522740

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