Which requires four equal payments of principal plus interest. In the first year of the mortgage, Wolfe will report this liability as a
A. Current liability of $120,000.
B. Current liability of $30,000 and a long-term liability of $90,000.
C. Long-term liability of $120,000.
D. Current liability of $90,000 and a long-term liability of $30,000.
I answered B…
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