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On December 1, 2018, Modern Dining Products borrowed $91,000 on a 12%, 10year note with annual installment payments of $9,100 plus interest due on December
On December 1, 2018, Modern Dining Products borrowed $91,000 on a 12%, 10year note with annual installment payments of $9,100 plus interest due on December 1 of each succeeding year. On December 1, the principal amount was recorded as a long term note payable. What amount of the note payable will be shown as current portion of LongTerm Note Payable on the balance sheet as of December 31, 2018? (Round your answer to nearest whole number.)
A. $18,200
B. $10,920
C. $9,100
D. $20,020
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