E10.6 (LO 2) On July 1, 2020, Granville Ltd. borrowed $15,000 by signing a two-year, 4% note payable. The note is payable in two annual instalments of $7,953 on June 30. The company records adjusting journal entries annually at year end on December 31. Instructions a. Prepare an instalment payment schedule for the term of the note. Round all amounts to the nearest dollar. b. Record (1) the receipt of the $15,000 cash and the issue of the note on July 1, 2020; (2) the accrual of interest on December 31, 2020; (3) the first payment on June 30, 2021; and (4) the accrual of interest on December 31, 2021. c. What amounts would Granville report as current and non-current in the liabilities section of its statement of financial position on December 31, 2020? d. What amount would Granville report as current and non-current in the liabilities section of its statement of financial position on December 31, 2021