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M10-5 (Algo) Reporting Current and Noncurrent Portions of Long-Term Debt [LO 10-2] On December 1, 2021, your company borrowed $48,000, a portion of which is

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M10-5 (Algo) Reporting Current and Noncurrent Portions of Long-Term Debt [LO 10-2] On December 1, 2021, your company borrowed $48,000, a portion of which is to be repaid each year on November 30 . Specifically. your company will make the following principal payments: 2022, \$6,400;2023, \$9,600;2024, \$12,800; and 2025, \$19,200, Show how this loan will be reported in the December 31,2022 and 2021 balance sheets, assuming principal poyments will be made when required

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