On November 1,2012,EZ Products Borrowed $48,000 on a 5%,10-Year Note

question 86

Multiple Choice

On November 1,2012,EZ Products borrowed $48,000 on a 5%,10-year note with annual installment payments of $4,800 plus interest due on November 1 of each succeeding year.
-On December 31,2013,what will the balance be in the account titled Long-term notes payable?

• A) $38,400
• B) $48,000
• C) $43,200
• D) $4,800

---

Definitions:

Object Permanence

Recognition that objects continue to exist even when they are not seen.

Theoretical View

A perspective or model based on theories that attempt to explain phenomena by integrating various concepts and propositions.

Specific Attachments

The strong emotional bonds that develop between an infant and particular caregivers, typically emerging around 7 to 9 months of age.

Attachment Phase

A developmental stage in which infants form close emotional bonds with caregivers, crucial for emotional and social development.