Exercise 14-20

At December 31, 2017, Headland Company has outstanding three long-term debt issues. The first is a $1,680,000note payable which matures June 30, 2020. The second is a $5,210,000bond issue which matures September 30, 2021. The third is a $11,130,000sinking fund debenture with annual sinking fund payments of $2,226,000in each of the years 2019 through 2023.

Prepare the required note disclosure for the long-term debt at December 31, 2017.

Exercise 14-20 At December 31, 2017, Headland Company has outstanding three long-term debt issues. The rst is a $1,680,000 note payable which matures June 30, 2020. The second is a $5,210,000 bond issue which matures September 30, 2021. The third is a $11,130,000 sinking fund debenture with annual sinking fund payments of $2,226,000 in each of the years 2019 through 2023. Prepare the required note disclosure for the long-term debt at December 31, 2017. Long-term Debt 2018 $ 2019 $ 2020 $ 2021 $ 2022