QS 10-2 Current portion of long-term debt L01 On January 1, 2017, La Petite Macaron, a local French bakery, borrowed $84,000 from the bank. Interest is calculated at the rate of 4% and the term of the note is four years. Four equal annual payments will be made in the amount of $23,141 each December 31. The payment schedule is shown below: Principal Payment Payment 2017 $23.141 $19,781 $64,219 Principal Portion of Annual Interest Portion of Payment Balance at Year End Year 2018 2019 2020 23.141 23.141 23.141 20,572 21,395 22.252 $3.360 2,569 1.746 889 43.647 22.252 0 Click here for a description of Table: QS 10-2. Show how La Petite Macaron will show the note on its year-end balance sheet: 1. December 31, 2017 2. December 31, 2018