M10-4 Reporting Current and Non-current Portions of Long-Term Debt LO10-2 On December 1, 2020, your company borrowed $14,000, a portion of which is to be repaid each year on November 30. Specifically, your company will make the following principal payments: 2021, $2,000; 2022, $3,000; 2023, $4,000; and 2024, $5,000. Show how this loan will be reported in the December 31, 2020, and 2021 balance sheets, assuming that principal payments will be made when required