Hello, I have to fill in a partial balance sheet for current and non current portions of
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Question:
Hello, I have to fill in a partial balance sheet for current and non current portions of long term debt and can't seem to figure it out. The info given is:
Assume that on December 1, 2015, your company borrowed $34,500, a portion of which is to be repaid each year on November 30. Specifically, your company will make the following principal payments: 2016, $4,600; 2017, $6,900; 2018, $9,200; and 2019, $13,800. Show how this loan will be reported in the December 31, 2016 and 2015 balance sheets, assuming that principal payments will be made when required.
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