At December 31, 2020, Tamarisk Corporation owes $532,300 on a note payable due February 15, 2021.

If Tamarisk had restructured the note on December 15, 2020, such that Tamarisk has the contractual right to defer payment of $266,150 of the note until February 15, 2022, how much of the $532,300 should be reported as a current liability at December 31, 2020?

The amount to be reported as a current liability at December 31, 2020

$enter the dollar amount to be reported as a current liability at December 31, 2020

If Tamarisk pays off the note on February 15, 2021, and then borrows $1,064,600 on a long-term basis on March 1, how much of the $532,300 should be reported as a current liability at December 31, 2020, the end of the fiscal year?

The amount to be reported as a current liability at December 31, 2020

$enter the dollar amount to be reported as a current liability at December 31, 2020