On January 2, 2014, Brook Company acquired machinery by issuing

On January 2, 2014, Brook Company acquired machinery by issuing a 3%, $360,000 note due in five years on December 31, 2017. Annual payments are $78,608 each December 31. The payment schedule is:

On January 2, 2014, Brook Company acquired machinery by issuing

Required
Using the information provided, complete the following liabilities section of Brook
Company’s balance sheet at December31:

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