Question: Thank you very much for answering! Problems Problem 10-IA Current versus non-current portions of debt LO1 On January 2, 2017, Brook Company acquired machinery by
Problems Problem 10-IA Current versus non-current portions of debt LO1 On January 2, 2017, Brook Company acquired machinery by issuing a 3% $300,000 note due in five on December 31, 2020. Annual payments are $78,608 each December 31. The payment schedule is: Principal Balance at Year-End Principal Portion of Payment $67,808 69,842 71,937 74,096 76,317 Interest Portion of Payment $10,800 8,766 6,671 4,512 2,291 Annual Payment Year 2017 2018 2019 2020 2021 $78,608 78,608 78,608 78,608 78,608 $292,192 222,350 150,413 76,317 Required Using the information provided, complete the following liabilities section of Brook Company's balance sheet at December 31: December 31 2017 2018 2019 2020 Current liabilities: Current portion of non-current debt... Interest payable... Non-current liabilities Long-term dtbt
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