Reference no: EM132682826

Question - Suppose Detweiler technologies borrowed $2,000,000 on December 31, 2016, by issuing 4 percent long-term debts that must be paid in four equal annual instalments plus interest on the outstanding balance commencing January 2, 2018.

Required - Insert the appropriate amounts in the following excerpts from the company's partial balance sheet to show how Detweiler technologies should report its current and long-term liabilities for this debts.

current liabilities--- 2017/2018/2019/2020

current portion of long-term debt-2017/2018/2019/202

interest payable--2017/2018/2019/2020

long-term liabilities

long-term debt-2017/2018/2019/2020

current portion of long-term debt 2017: current portion of long-term debt,$500,000;

interest payable,$80,000