Assume that on December 31st 2020, your company borrowed 21,500$ a portion of which it to be repaid each year on October 31 . Specifically your company will make the following payments. :

10/31/2017 $2,200

10/31/2018 $ 3,600

10/31/2019 $ 9,200

10/31/2020 $ 5,500

10/31/2021 $1,000

Show how this loan will be reported in the December 31, 2016 balance sheets

Blank 1: What dollar amount ill be presented on the balance sheet as the current portion of Long-Term debt as of 12/31/2016?

Blank 2: What dollar amount will be presented as the concurrent debt of 12/31/2016?