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On December 1, 2018, your company borrowed $28,500, a portion of which is to be repaid each year on November 30 Specifically your company will
On December 1, 2018, your company borrowed $28,500, a portion of which is to be repaid each year on November 30 Specifically your company will make the foilowing principal payments: 2019, $3,800; 2020, $5,700; 2021 $7600; and 2022, $11.400. Show how this loan will be reported in the December 31, 2019 and 2018 balance sheets, assuming principal payments will be made when required ance 2019 2018
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