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Determine the current portion of the note payable and the long-term portion of the note payable at October 31, 2024. Current portion $ Long-term portion
Determine the current portion of the note payable and the long-term portion of the note payable at October 31, 2024. Current portion $ Long-term portion $ Natalie and Curtis have been experiencing great demand for their cookies and muffins. As a result, they are now thinking about buying a commercial oven. They know which oven they want and that it will cost $14,280. The company already has $4,200 set aside for the purchase and will need to borrow the rest. Natalie and Curtis met with a bank manager to discuss their options. She is willing to lend Cookie \& Coffee Creations Inc. $10,080 on November 1,2023 , for a period of 3 years at a 5% interest rate. The terms provide for fixed principal payments of $1,680, on May 1 and November 1 of each year plus 6 months of interest
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