Question: Margaret Grey has just approached a venture capitalist for financing for her new business venture, the development of a local ski hill. On July 1
Margaret Grey has just approached a venture capitalist for financing for her new business venture, the development of a local ski hill. On July Margaret was loaned $ at an annual interest rate of The loan is repayable over years in annual installments of $ principal and interest, due each June The first payment is due June Margaret uses the effectiveinterest method for amortizing debt. Her ski hill company's yearend will be June
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Show the balance sheet presentation of the note payable as of June Hint: Be sure to distinguish between the current and longterm portions of the note.Round answers to decimal places, eg
$
$
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