Question: Blue Spruce Corp. has three notes payable outstanding on December 31, 2020, as follows: 1. A six-year, 6%, $66,000 note payable issued on March 31,

Blue Spruce Corp. has three notes payable outstanding on December 31, 2020, as follows:

1. A six-year, 6%, $66,000 note payable issued on March 31, 2020. Blue Spruce Corp. is required to pay $11,000 plus interest on March 31 each year starting in 2021.
2. A seven-month, 5%, $32,000 note payable issued on July 1, 2020. Interest and principal are payable at maturity.
3. A 30-month, 6%, $132,000 note payable issued on September 1, 2020. Blue Spruce Corp. is required to pay $4,400 plus interest on the first day of each month starting on October 1, 2020. All payments are up to date.

Calculate the current portion of each note payable.

Current Portion

Note 1

 $enter a dollar amount

Note 2

 $enter a dollar amount

Note 3

 $enter a dollar amount

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Calculate the non-current portion of each note payable.

Non-Current Portion

Note 1

 $enter a dollar amount

Note 2

 $enter a dollar amount

Note 3

 $enter a dollar amount

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Calculate any interest payable at December 31, 2020.

Interest Payable

Note 1

 $enter a dollar amount

Note 2

 $enter a dollar amount

Note 3

 $enter a dollar amount

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