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Pelican Accounting took out a $2,462,000 interest-free bank loan on January 1, 2019. Payment will be made over four years in four equal annual installments.

Pelican Accounting took out a $2,462,000 interest-free bank loan on January 1, 2019. Payment will be made over four years in four equal annual installments. Calculate the current and long-term liabilities as at December 31 for the following years.

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