If a company borrows money from a bank as an installment note, the interest portion of each annual payment will

a. equal the interest rate on the note times the carrying amount of the note at the beginning of the period
b. remain constant over the term of the note
c. equal the interest rate on the note times the face amount
d. increase over the term of the note


a

Business

You might also like to view...

Ideally, each country-specific site should reflect all of the following except:

A) local culture. B) language usage. C) customs. D) universal shopping cart icon. E) brand identity.

Business

"BRICS" is an acronym for ________

A) Brazil, Russia, India, China, and South Africa B) Bolivia, Russia, Indonesia, China, and South Africa C) Brazil, Russia, Indonesia, China, and South Africa D) Bolivia, Russia, India, Canada, and South Africa E) Bolivia, Russia, Indonesia, Canada, and South Africa

Business

Unlike earlier researchers, Post World War II researchers increasingly argued that ____________ is a source of power rather than a constraint on its exercise.

a. Uncertainty b. Bureaucracy c. Leadership d. Legitimacy

Business

Jax Recording Studio purchased $6600 in electronic components from Music World. Jax signed a 90-day, 12% promissory note for $6600. Music World's journal entry to record the sales transaction is:

A. Debit Notes Receivable $6600; credit Sales $6600 B. Debit Notes Receivable $6798; debit Interest Receivable $198; credit Sales $6600 C. Debit Accounts Receivable $6600; credit Sales $6600 D. Debit Notes Receivable $6798; credit Sales $6798 E. Debit Accounts Receivable $6798; credit Sales $6798

Business