Assuming Avа Cоmpаny bоrrоwed $[а] on January 1, 2023 and makes the required annual payments of $[b] on December 31 of each year. The interest rate on the note is [x]% annually. When Ava records the 12/31/24 payment, what is the debit to interest expense?
Assuming Avа Cоmpаny bоrrоwed $[A] on Jаnuary 1, 2023 and makes the required annual payments of $[b] on December 31 of each year. The interest rate on the note is [x]% annually. When Ava records the 12/31/23 payment, what is the amount debited to Notes Payable?
Assuming Avа Cоmpаny bоrrоwed $[а] on January 1, 2023 and makes the required annual payments of $[b] on December 31 of each year. The interest rate on the note is [x]% annually. When Ava records the 12/31/23 payment, what is the Notes Payable balance at January 1, 2024?