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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 $27,000, a portion of which is
M10-5 (Algo) Reporting Current and Noncurrent Portions of Long-Term Debt [LO 10-2] On December 1,2021 , your company borrowed $27,000, a portion of which is to be repaid each year on November 30 . Specifically. your company will make the following principal payments: 2022, $3,600;2023,$5,400;2024,$7,200; and 2025, $10,800. Show how this loan will be reported in the December 31,2022 and 2021 balance sheets, assuming principal payments will be made when required
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