Question: Monty Corp. has three notes payable outstanding on December 31, 2020, as follows: 1 2. 3. A six-year, 6%, $72,000 note payable issued on March
Monty Corp. has three notes payable outstanding on December 31, 2020, as follows: 1 2. 3. A six-year, 6%, $72,000 note payable issued on March 31, 2020, Monty Corp. is required to pay $14,400 plus interest on March 31 each year starting in 2021. A seven month, 6% $40,000 note payable issued on July 1, 2020. Interest and principal are payable at maturity A 30-month, 6%, $168,000 note payable issued on September 1.2020. Monty Corp. is required to pay $5.600 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 $ Note 2 Note 3 $ eTextbook and Media
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