Question
ABC Ltd has a substantial mortgage debt. The debt was $1283891 at the beginning of this year. Mortgage payments of $341209 were made during
ABC Ltd has a substantial mortgage debt. The debt was $1283891 at the beginning of this year. Mortgage payments of $341209 were made during the year and the mortgage balance was $974203 at the end of the year. No new borrowing was made this year. Next year, the payments required total $387446 and, if there is no new borrowing, the mortgage balance will be $785242 at the end of next year. Compute the current portion of the mortgage liability at the end of this year and enter the value in the answer space below
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