Question 53 On July 1, 2017, Granville Ltd. borrowed $15,300 by signing a two-year, 4% note payable. The note is payable in two annual blended principal and interest instalments of $8,112 on June 30. Adjusting journal entries are recorded annually at year end on December 31. Prepare an instalment payment schedule for the term of the note. (Round answers to the nearest whole dollar, e.g. 5,255.) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance July 1, 2017 June 30, 2018 June 30, 2019 Record (1) the issue of the note on July 1, 2017; (2) the accrual of interest on December 31, 2017; and (3) the first payment on June 30, 2018. (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date 2017 2018 June 30 What amounts would be reported as current and non-current in the liabilities section of Granville's statement of financial position on December 31, 2018? (Round answers to the nearest whole dollar, e.g. 5,255.) GRANVILLE LTD. Statement of Financial Position (Partial) December 31, 2018