A company borrows $100,000 on January 1, 2022. The interest rate is 6% (simple interest). The loan is payable in annual installments of $23,740 (including interest), beginning January 1, 2023. The company made the first payment as required on January 1, 2023. How much of that $23,740 payment was applied to principal (i.e. by how much did it reduce the note payable)? Round answer to the nearest dollar amount. Use commas, no $ signs. HINT: Remember, the payment covered both principal and interest. I If the company prepares financial statements on December 31, 2023, how much of the note principal should be classified as a current liability? Round answer to the nearest dollar amount. Use commas, no $ signs.

A company borrows $100,000 on January 1,2022 . The interest rate is 6% (simple interest). The loan is payable in annual installments of $23,740 (including interest), beginning January 1, 2023. The company made the first payment as required on January 1, 2023. How much of that $23,740 payment was applied to principal (i.e. by how much did it reduce the note payable)? Round answer to the nearest dollar amount. Use commas, no \$ signs. HINT: Remember, the payment covered both principal and interest. If the company prepares financial statements on December 31,2023, how much of the note principal should be classified as a current liability? Round answer to the nearest dollar amount. Use commas, no \$ signs