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On May 31 st , Morrison Company obtained a nine-month, $80,000, 6% loan from First National Bank. The principal and interest will be paid at

On May 31st, Morrison Company obtained a nine-month, $80,000, 6% loan from First National Bank. The principal and interest will be paid at maturity. How much should Morrison report as a current liability related to this loan on their December 31, 2018 balance sheet? (Use months instead of 360 days to determine any accrued interest).

$83,200

$82,100

$80,000

$82,800

$82,400

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