Question
The following instalment payment schedule is for an instalment note payable: Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Jan. 1, 2021
The following instalment payment schedule is for an instalment note payable: Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Jan. 1, 2021 $37,600 Jan. 1, 2022 $11,280 $1,880 $9,400 28,200 Jan. 1, 2023 10,810 1,410 9,400 18,800 Jan. 1, 2024 10,340 940 9,400 9,400 Jan. 1, 2025 9,870 470 9,400 0 Collapse question part (a)
What are the non-current and current portions of the note at December 31, 2021? (If an answer is zero, please enter 0. Do not leave any fields blank.)
Current portion of note payable
$ Non-current portion of note payable
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