The Platte Corporation issues a 5-year note payable on January 1, Year 1 for $5,000. The interest rate is 5% and the annual payment of $1,156, due each December 31, includes both interest and principal.Which of the following answers correctly shows the effect of the issuance of the note on Platte's financial statements? 
Definitions:
Sincere Efforts
Genuine attempts or actions made with honesty and earnestness, often aimed at achieving a specific goal or resolving a problem.
Personalize Conversations
Tailoring dialogue or interactions to suit the individual characteristics, preferences, and needs of the person one is communicating with.
Race-Related Content
Materials, discussions, or media that focus on issues, history, and dynamics related to race and racial identity.
Biases
Inclinations or prejudices for or against one person or group, especially in a way considered to be unfair, which can affect judgment and decision-making processes.
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