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On January 1, 2014, Callaho Ino borrowed $153,000 from the bank. Interest is calculated at the rate of 10% and the form of the note

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On January 1, 2014, Callaho Ino borrowed $153,000 from the bank. Interest is calculated at the rate of 10% and the form of the note is four years. Four equal annual payments will be made in the amount of $48,267 each December 31. The payment schedule is shown below: Year Annual Principal Portion of Interest Portion of Principal Balance at Payment Payment Payment Yoar-End 2014 48,267 32.967 15,300 120,033 2015 48,267 36 264 12,003 83,769 2010 48,267 39,890 8,377 43.879 2017 48,267 43,879 4,388 0 a) Show how Callaho Inic will show the note on the year-end December 31, 2014 balance sheet. Liabilities Current Liabilities Select one Long Term Liabilities Select one b) Show how Callaha ina will show the note on the year-end December 31, 2015 balance sheet abilities Current Liabilities (Select one) Long Tom Liabilities Secto

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