Question: Determine the total current debt and non-current debt that the company will present in the Statement of Financial Position (Balance Sheet) of December 31, 2021.

Determine the total current debt and non-current debt that the company will present in the Statement of Financial Position (Balance Sheet) of December 31, 2021.

Accounts DR Number of Transaction #1 CR 20,000 ACCOUNT PAYABLE CASH 20,000 #2 INTEREST EXPENSE 1,000 INTEREST PAYABLE 1,000 #3 LEGAL EXPENSE 700,000 ACCRUED LEGAL 700,000 #4 INTEREST EXPENSE 2,400 INTERES PAYABLE 2,400 #5 INTEREST EXPENSE 1666.67 INTEREST PAYABLE 1666.67 #6 CASH DISCOUNT AND DEBT ISSUE COST 81,580 18,420 BONDS PAYABLE 100,000 #7 NO ENTRY

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