Question: At December 31, 2017, Reddy Inc. has three long-term debt issues out- standing. The first is a $2.2-million note payable that matures on June 30,

At December 31, 2017, Reddy Inc. has three long-term debt issues out- standing. The first is a $2.2-million note payable that matures on June 30, 2020. The second is a $4-million bond issue that matures on September 30, 2021. The third is a $17.5-million sinking fund debenture with annual sinking fund payments of $3.5 million in each of the years 2019 through 2023.
Instructions
Prepare the note disclosure that is required for the long-term debt at December 31, 2017.

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