A local company has just approached a venture capitalist for financing to develop a ski hill. On April 1, 2017, the venture capitalist lent the company $1,008,000 at an interest rate of 5%. The loan is repayable over four years in fixed principal payments. The first payment is due March 31, 2018. The ski hill operator's year end will be December 31. (a) (b) (c) Your answer is correct. Prepare an instalment payment schedule. Period Cash Payment Interest Expense Principal Reduction Balance Apr 1, 2017 1008000 $ $ Mar. 31, 2018 302400 50400 252000 756000 Mar. 31, 2019 289800 37800 252000 504000 Mar. 31, 2020 277200 25200 252000 252000 Mar. 31, 2021 264600 12600 252000 0 Record the accrual of interest on December 31, 2017, and the instalment payment on March 31, 2018. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 Interest Expense 37800 Interest Payable 37800 Mar. 31, 2018 Notes Payable 252000 Interest Payable 37800 Interest Expense 12600 Cash 302400 (e) What amounts would be reported as current and non-current in the liabilities section of the company's December 31, 2017, balance sheet? Balance sheet (Partial) $ SHOW LIST OF ACCOUNTS