Multiple Choice
On July 1,2014,Martinez Manufacturing Co.issued a five-year note payable with a face amount of $250,000 and an interest rate of 10 percent.The terms of the note require Martinez to make five annual payments of $50,000 plus accrued interest,with the first payment due June 30,2015.With respect to the note,the current liabilities section of Martinez' December 31,2014,balance sheet should include
A) $12,500.
B) $50,000.
C) $62,500.
D) $75,000.
Correct Answer:
Verified
Correct Answer:
Verified
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