The Marigold Company manufactures agricultural equipment and sells it to farmers. In 20X7, Marigold Company experienced changes in the long-term liabilities section of the balance sheet. Alfred Miller is the staff accountant working on year-end financial statement preparation. He completed the memo below. David Baker, the chief financial officer, has asked you to review Alfred?s work and revise the memo, correcting any errors. To revise the document, click on each segment of underlined text below and select the needed correction, if any, from the list provided. If the underlined text is already correct in the context of the document, select [Original Text] from the list. If removal of the underlined text is the best revision to the document, select [Delete Text] from the list if available. For the loan payment of $1,295,046 made on December 30, 20X7, $418,507 was allocated to interest, and $876,539 was applied against the principal balance. In 20X7, the annual interest expense on the bonds issued July 1, 20X4