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Business, 05.05.2020 17:43 chrisdelreal86

On December 1, 2018, your company borrowed $51,000, a portion of which is to be repaid each year on November 30. Specifically, your company will make the following principal payments: 2019, $6,800; 2020, $10,200; 2021, $13,600; and 2022, $20,400. Show how this loan will be reported in the December 31, 2019 and 2018 balance sheets, assuming principal payments will be made when required.

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On December 1, 2018, your company borrowed $51,000, a portion of which is to be repaid each year on...
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