g Samco signed a 5 -year note payable on January 1, 2018 , of $ 475 comma 000. The note requires annual principal payments each December 31 of $ 95 comma 000 plus interest at 9 %. The entry to record the annual payment on December 31, 2021 , includes A. a debit to Interest Expense for $ 17 comma 100. B. a debit to Interest Expense for $ 42 comma 750. C. a credit to Cash of $ 137 comma 750. D. a credit to Notes Payable for $ 95 comma 000.
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Home » Business » g Samco signed a 5 -year note payable on January 1, 2018 , of $ 475 comma 000. The note requires annual principal payments each December 31 of $ 95 comma 000 plus interest at 9 %.