View Policies Current Attempt in Progress On July 1, 2017, Granville Ltd. borrowed $20,000 by signing a two-year, 4% note payable. The note is payable in two annual blended principal and interest instalments of $10,604 on June 30. Adjusting journal entries are recorded annually at year end on December 31. Prepare an instalment payment schedule for the term of the note. (Round answers to the nearest whole dollar, eg.5,255.) Annual Interest Period Cash Payment Interest Expense Redition of Principal Principal Balance July 1. 2017 $ 20000 June 30. 2018 $ 10604 $ $ June 30, 2019 10604 e Textbook and Media C WP ENG Record (1) the issue of the note on July 1, 2017; (2) the accrual of interest on December 31, 2017; and (3) the first payment on June 2018. (Round answers to the nearest whole dollar, eg. 5,275. Credit account titles are automatically indented when the amount is ente Do not indent manually.) Date Account Titles and Explanation Debit Credit 2017 July 1 Cash 20000 Notes Payable 2000C Dec 31 v Interest Expense th 400 Interest Payable 40 2018 June 30 Interest Expense 400 Interest Payable 400 Notes Payable cash O DI WP What amounts would be reported as current and non-current in the liabilities section of Granville's statement of financial position on December 31, 2018? (Round answers to the nearest whole dollar, g 5,255.) GRANVILLE LTD. Statement of Financial Position (Partial) December 31, 2018 $ e Textbook and Media List of Accounts Submit Ans Attempts: 0 of 3 used Last saved 5 minutes ago. Save for Later ENG WP