On 1 November 2013, EZ Products Borrowed $48 000 on a 5

question 105

Multiple Choice

On 1 November 2013, EZ Products borrowed $48 000 on a 5%, 10- year note with annual instalment payments of $4 800 plus interest due on 1 November of each succeeding year. On 31 December 2014, what will the balance be in the account titled Current portion of long- term notes payable?

• A)$4 800
• B)$48 000
• C)$400
• D)$43 200

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Definitions:

Anterograde Amnesia

A condition where a person loses the ability to form new memories after the event that caused the amnesia, leaving the capacity for recalling events prior to the event intact.

Retrograde Amnesia

A type of amnesia where an individual loses pre-existing memories to a certain event, but does not affect new memories.

Retrograde Amnesia

A loss of memory access to events that occurred, or information that was learned, before an injury or the onset of a disease.

Anterograde Amnesia

A loss of the ability to create new memories after the event that caused the amnesia, leading to a partial or total inability to recall the recent past, while long-term memories from before the event remain intact.