Compute the annual payment of halogen corporation


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Q: The Halogen Corporation issued a 5-year note payable on January 1, 2010 for $2,500. The interest rate is 5% and the annual payment of $578, due each December 31, includes both interest and principal. Which of the following correctly shows the effects of the December 31, 2011, payment? Row: Assets= Liabilities + Equity, Revenue, - expenses, = net income , cash? Where and what numbers belong?

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Accounting Basics: Compute the annual payment of halogen corporation
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