Bon Secour Medical Group borrowed $600,000 on July 1, 2014, by issuing a 14% long term note payable.

 

Bon Secour Medical Group borrowed $600,000 on July 1, 2014, by issuing a 14% long term note payable that must be paid in three equal annual installments plus interest each July 1 for the next three years. Requirement Insert the appropriate amounts to show how Bon Secour would report its current and long-term liabilities.