On November 1, 2018, A- 1 Products borrowed $55,000 on a 12%, 5- year note...
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Accounting
On November 1, 2018, A- 1 Products borrowed $55,000 on a 12%, 5- year note with annual installment payments of $11,000 plus interest due on November 1 of each succeeding year. On November 1, 2020, what is the balance of the Long - Term Notes Payable account? (Round your answer to nearest whole number.) JA $11,000 O B. $33,000 OC. $55,000 D. $44,000
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