Transaction Current Liability Long-Term Liability On September 30, 2016, Giant Flowers borrowed $273,400 from the bank. The entire amount is due on September 30, 2017. X DEF Company purchased a small building at a cost of $170,000. The down payment is $100,000. The remaining balance is payable in 4 years with an annual payment of $17,500, starting next year. During April 2016, a business owner obtained an interest-free loan from a financing company. The loan amount was $61,000. The agreed terms of payment is 4 annual installments of $15,250. 4 A business owner borrowed $14,000 from a close friend for a business expansion. They both signed an agreement that the payment will be made after 3 years