On January 1st,2024, Jurassic Pork, a food truck specializing in smoked ribs and pulled pork,...
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Accounting
On January st Jurassic Pork, a food truck specializing in smoked ribs and pulled pork, is purchasing a new food truck for its fleet by signing a note payable which includes an interest rate of The company will choose between the following two options for the terms of its note payable:Option : Payments of $ at the end of each year for years, starting Option : A single payment of $ in years.
Which option above would be the cheaper option for Jurassic Pork? Note that choices below are scrambled due to a setting in Connect that I cannot changedo not let the order of the choice affect your answer
Multiple Choice:
A Both options cost the same.
B Option
C Option
BONUS: What amount of interest expense would Jurassic Pork record on under option It may be helpful to reference the journal entries you recorded for option when answering this question. up to bonus point possibleNote: Enter only the amount. No dollar signs!
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