Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, 2012 fleming company borrowed 160,00

on January 1, 2012 Fleming company borrowed 160,000 cash from the First Trust Bank by...

90.2K

Verified Solution

Question

Accounting

on January 1, 2012 Fleming company borrowed 160,000 cash from the First Trust Bank by issuing a five year 8 % term note. The principal and interest are repaid by making annual payments beginning on December 31, 2012. The annual payment on the loan was 40,074. The amount of principal repayment included in the December 31 2012 payment is

27,274 40,575 37,329 27,615

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

HMN Item 1921 Part A A 2.52 g lead weight, initially at 11.0 ∘C, is submerged in...

Chemistry
1.2K views

A 25.0-mL solution of 0.100 M acetic acid is titrated with a 0.200 M KOH solution....

Civil Engineering
1.2K views

Panama Canal, which took 10 years to build and opened in 1914, handles 5% of world...

Basic Math
1.2K views

Some people say if you want to make money after you graduate that you should major...

Geometry
1.2K views

Amari Perform the following conversions Marks as indicated 1 A cone shaped fuel tank has...

Basic Math
1.2K views

Day Frequency Relative Frequency Mon 1504 Tue 1880 Wed 2402 Thur 2566 Fri 3576 Give...

Algebra
1.2K views

0 Rank the following numbers in ascending order from smallest to largest 1 largest value...

Accounting
1.2K views

Chapter 8 Homework 5 20 points eBook Print References The following information pertains to...

Accounting
1.2K views

Show complete ledgers for all revenue and income as well as all expenses

Finance
1.2K views

The common stock of Winners Corp. has just paid a dividend of $2.00 per share....

Finance
1.2K views

11. Islamic financial institutions can avoid or eliminate their risk through (a) non-standardization of all...

Accounting
1.2K views

A company reports the following for one of its products. Direct materials standard ( 3...