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Business, 08.04.2021 18:20 isadorahelena1

On December 1, 2018, your company borrowed $52,500, a portion of which is to be repaid each year on November 30. Specifically, your company will make the following principal payments: 2019, $7,000; 2020, $10,500; 2021, $14,000; and 2022, $21,000. 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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