On July 1, 2020, Sheridan Ltd. borrowed $15,000 by signing a two-year, 3% note payable. The note is payable in two annual instalments of $7,839 on June 30. The company records adjusting journal entries annually at year end on December 31.

What amounts would Sheridan report as current and non-current in the liabilities section of its statement of financial position on December 31, 2020? (Round answers to the nearest whole dollar, e.g. 5,255.)

SheridanLtd. Statement of Financial Position (Partial) choose the accounting period For the Month Ended December 31, 2020December 31, 2020For the Year Ended December 31, 2020
select an opening name for subsection one Total Non-Current LiabilitiesNon-Current LiabilitiesTotal Current LiabilitiesCurrent Liabilities
enter an account title		$	enter a dollar amount
enter an account title			enter a dollar amount
select an opening name for subsection two Total Current LiabilitiesTotal Non-Current LiabilitiesCurrent LiabilitiesNon-Current Liabilities
enter an account title			enter a dollar amount

List of Accounts

What amount would Sheridan report as current and non-current in the liabilities section of its statement of financial position on December 31, 2021? (Round answers to the nearest whole dollar, e.g. 5,255.)

SheridanLtd. Statement of Financial Position (Partial) choose the accounting period December 31, 2021For the Month Ended December 31, 2021For the Year Ended December 31, 2021
select an opening subsection name Current LiabilitiesTotal Current LiabilitiesTotal Non-Current LiabilitiesNon-Current Liabilities
enter an account title		$	enter a dollar amount
enter an account title			enter a dollar amount

List of Accounts