P8-53B The notes to the Community Charities financial statements reported the following data on December 31, 2017 (end of the fiscal year): Note D-Long-Term Debt 7% bonds payable, due in 2023 $ 500,000 Less: Discount (26,032). $473,968 61/2% notes payable; principal due in annual amounts of $50,000 300,000 in 2021 through 2026 Community Charities amortizes bonds by the effective-interest method and pays all interest amounts at December 31