Question: please help with partial statement of financial position. thank you On July 1, 2020. Swifty Ltd, borrowed $12,500 by signing a two-year, 6% note payable.

 please help with partial statement of financial position. thank you On
July 1, 2020. Swifty Ltd, borrowed $12,500 by signing a two-year, 6%
note payable. The note is payable in two annual instalments of $6,818
please help with partial statement of financial position. thank you
on June 30. The company records adjusting journal entries annually at year

On July 1, 2020. Swifty Ltd, borrowed $12,500 by signing a two-year, 6% note payable. The note is payable in two annual instalments of $6,818 on June 30. The company records adjusting journal entries annually at year end on December 31. (a) Your answer is correct Prepare an instalment payment schedule for the term of the note. (Round answers to the nearest whole dollar, e.g. 5.255.) Cash Payment Interest Expense Reduction of Principal Principale Annual Interest Period July 1, 2020 June 30 2021 June 30. 2022 6818 750 $ 6068 6818 386 6432 e Textbook and Media List of Accounts Reduction of Principal Principal Balance 12500 ta 6068 6432 TA 0 6432 Record (1) the receipt of the $12,500 cash and the issue of the note on July 1, 2020; (2) the accrual of interest on December 31. 2020; (3) the first payment on June 30, 2021; and (4) the accrual of interest on December 31, 2021. (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit 2020 July 1 12500 Notes Payable 12500 Dec 31 7 Interest Expense 375 fost Payable 325 2021 June 302 Interest Payable 375 interest Expens 375 Notes Payable 6068 Cath 1993 Dec 31 Therest Expense Interest Payable 193 What amounts would Swifty report as current and non-current in the liabilities section of its statement of financial position on December 31, 2020? (Round answers to the nearest whole dollar, e.g. 5,255.) SwiftyLtd. Statement of Financial Position (Partial) December 31, 2020 Current Liabilities II Non Current Liabilities 1

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