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Exercise 10-7 (Part Level Submission) The following instalment payment schedule is for a long-term bank...

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Accounting

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Exercise 10-7 (Part Level Submission) The following instalment payment schedule is for a long-term bank loan payable: Interest Period Cash Payment Interest Expense Reduction of Principal Issue date $24,945.28 24,945.28 24,945.28 24,945.28 24,945.28 $5,400.00 4,422.74 3,396.61 2,319.18 1,187.87 $19,545.28 20,522.54 21,548.67 22,626.10 23,757.41 Principal Balance $108,000.00 88,454.72 67,932.18 46,383.51 23,757.41 0.00 (d) X Your answer is incorrect. Try again. What are the current and non-current portions of the bank loan after the payment at the end of period 2? (Round answers to 2 decimal places, e.g. 1.25.) 24,945.28 Current portion 49,890.56 Non-current portion $

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