On the first day of the fiscal year, Shiller Company borrowed $58,000 by giving a six-year, 10% installment note to Soros Bank. The note requires annual payments of $13,502, with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $5,800 and principal repayment of $7,702.
Required:
1. Journalize the entries to record the following:
a1. Issued the installment note for cash on the first day of the fiscal year.
a2. Paid the first annual payment on the note.
b. Explain how the notes payable would be reported on the balance sheet at the end of the first year.

its simple as this, microeconomics is the study of economics at an individual, group or company level, macroeconomics on the other hand, is the study of a national economy as a whole.

hope it =^-^=

net worth is the difference between what you own and what you have. if you exceed your liabilities you have a positive net worth. if your liabilities are greater than your assets you have a negative net worth. its a snapshot of your financial situation. if you calculate your net worth you will see the end result of everything you've earned and spent as of now. net worth statements and all you asked of can you determine where you are, how to get where you want to be, if your spending   to much. honestly it can tell you a lot of things. i can go on, but you can paint the picture from here.

explanation:

borrow money from the government then pay the government back 5k

answer; ///deficit;