On January 1, 2017, Thames Company purchases a vehicle and signs a six-year loan for $60,000 at 4 percent. Complete the partial amortization schedule below assuming they will make a monthly payment of $980:

At the end of 2017, what amount would be shown on the balance sheet for the current portion of the loan?

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Payment Number Interest Payment Expense Equal Principal Portion Date Balance 60,000.00 Jan. 1, 2017 Jan. 31, 2017 Feb. 28, 2017 Mar. 31, 2017 Apr. 30, 2017 May 31, 2017 Jun. 30, 2017