The following are selected items from the accounting records of Denver Chocolates for the year ended December $31,2021.$

Other Information

The note payable to Northwest Bank is due in $60$ days. Arrangements have been made to renew this note for an additional $12$

months.

The mortgage requires payments of $$6,000$ per month. An amortization table shows that its balance will be paid down to $$739,000$

by December $31,2022.$

Accrued interest on the mortgage note payable is paid monthly. The next payment is due near the end of the first week in January

Denver Chocolates has been sued for $$100,000$ in a contract dispute. It is not possible at this time, however, to make a reasonable

estimate of the possible loss, if any, that the company may have sustained.

Required:

a$.$ Using the information provided, prepare the current and long$-$term liability sections of the Denver Chocolates balance sheet dated

December $31,2021.($Within each classification, items may be listed in any order.$)$