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Please answer thoroughly and correct Assume that on December 1, 2015, your company borrowed s33,000, a portion of which is to be repaid each year
Please answer thoroughly and correct
Assume that on December 1, 2015, your company borrowed s33,000, a portion of which is to be repaid each year on November 30. Specifically. your company will make the following principal payments: 2016, $4.400: 2017, $6,600: 2018, $8,800; and 2019, $13,200. Show how this loan will be reported in the December 31, 2016 and 2015 balance sheets, assuming that principal payments will be made when required Answer is not complete. Balance Sheet (Partial) As of December 31 2016 2015 Current Liabilities Current Portion of Long-term Debt |$ 6.600 |s 4400 Long-term Liabilities Long-term Debt Total Liabilities S 6,600 $ 4,400 Step by Step Solution
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