Camrey Company Issued a Five-Year, Interest-Bearing Note Payable for $50,000

question 11

Multiple Choice

Camrey Company issued a five-year, interest-bearing note payable for $50,000 on January 1, 2019. Each January Camrey is required to pay $10,000 principal on the note. What is the amount that will be reported on the long-term portion of long-term notes payable on the December 31, 2021 balance sheet?

• A)$10,000
• B)$40,000
• C)$30,000
• D)$20,000

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Definitions:

Signal Collision

A phenomenon occurring in a network when two signals are sent simultaneously over the same channel, causing interference and potential data loss.

Jam Signal

A special signal sent to network nodes alerting them that a data collision has occurred.

Peer-To-Peer

A decentralized network architecture where all the participants, or nodes, share part of their resources directly with each other, without going through a centralized server.

Node

A device connected to a network such as a computer, a peripheral (such as a printer), or a communications device (such as a modem).