On January 1, 2013, Thames Company purchases property and signs a 6-year mortgage note for $60,000 at 4%. Please see the partial amortization schedule below.

 

Payment Number   Date                 Payment              Interest Expense                      Principal                                 Balance

                                      1/1/2013                                                                                                                                   60,000.00

1                                   1/31/2013           980.00                 200.00                                                780.00                   59,220.00

2                                   2/28/2013           980.00                197.40                                                782.60                     58,437.40

3                                   3/31/2013           980.00                194.79                                                785.21                     57,652.19

4                                   4/30/2013           980.00                192.17                                                787.83                      56,864.37

5                                   5/31/2013           980.00                189.55                                                790.45                       56,073.91

6                                   6/30/2013           980.00                 186.91                                                793.09                        55,280.83

7                                   7/31/2013           980.00                184.27                                                795.73                        54,485.10

8                                   8/31/2013           980.00                181.62                                                798.38                        53,686.71

9                                   9/30/2013           980.00                178.96                                                801.04                        52,885.67

10                                 10/31/2013        980.00                 176.29                                                803.71                       52,081.95

11                                 11/30/2013        980.00                 173.61                                                806.39                         51,275.56

12                                 12/31/2013        980.00                170.92                                                809.08                         50,466.48

                                                                      2013 totals        11,760.00           2,226.48             9,533.52            

13                                 1/31/2014           980.00                168.22                                                811.78                       49,654.70

14                                 2/29/2014           980.00                165.52                                                814.48                        48,840.22

15                                 3/31/2014           980.00                162.80                                                817.20                       48,023.02

16                                 4/30/2014     980.00          160.08                                           819.92                47,203.09

At the end of 2013, what amount would be shown on the balance sheet for the current portion of mortgage payable?

A) $50,466.48

B) $9,921.93

C) $9,533.52

D) $2,226.48