On december 1, 2018, your company borrowed $39,000, a portion of which is to be repaid each year on november 30. specifically, your company will make the following principal payments: 2019, $5,200; 2020, $7,800; 2021, $10,400; and 2022, $15,600. 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 $39,000, a portion of which is to be repaid each year on...
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