On January 1, 2013, Thames Company Purchases Property and Signs

question 150

Multiple Choice

On January 1, 2013, Thames Company purchases property and signs a 6-year mortgage note $60,000 at 4%. Please see the partial amortization schedule below. At the end of 2013, what amount would be shown on the balance sheet for mortgage payable (excluding the current portion) ?

• A)$40,544.55
• B)$50,466.48
• C)$9,533.52
• D)$9,921.93

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