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Suppose a business has a $649,000 long-term bank loan that was taken out on May 31, 2016. The borrowing arrangement requires the business to pay

Suppose a business has a $649,000 long-term bank loan that was taken out on May 31, 2016. The borrowing arrangement requires the business to pay $162,250 by May 2017. Show how the business will report both current and long-term liabilities on its May 31, 2016 balance sheet. Do not enter dollar signs or commas in the input boxes.

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