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1 M 1 0 - 5 ( Algo ) Reporting Current and Noncurrent Portions of Long - Term Debt [ LO 1 0 - 2

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1 M10-5(Algo) Reporting Current and Noncurrent Portions of Long-Term Debt [LO 10-2]
On December 1,2021, your company borrowed $25,500, a portion of which is to be repaid each year on November 30. Specifically, your company will make the following principal payments: 2022,$3,400;2023,$5,100;2024,$6,800; and 2025,$10,200. Show how this loan will be reported in the December 31,2022 and 2021 balance sheets, assuming principal payments will be made when
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\table[[Balance Sheet (Partial),],[References,As of December 31],[,,2022,2021,],[,,,,],[,,,,],[,,,,],[,,,,],[Total Liabilities,,,,]]no
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