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Margaret Grey has just approached a venture capitalist for financing for her new business venture,...

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Accounting

Margaret Grey has just approached a venture capitalist for financing for her new business venture, the development of a local ski hill. On July 1,2024, Margaret was loaned $100,500 at an annual interest rate of 5%. The loan is repayable over 5 years in annual installments of $23,213, principal and interest, due each June 30. The first payment is due June 30,2025. Margaret uses the effectiveinterest method for amortizing debt. Her ski hill company's year-end will be June 30.
(c)
Show the balance sheet presentation of the note payable as of June 30,2026.(Hint: Be sure to distinguish between the current and long-term portions of the note.)(Round answers to 0 decimal places, e.g.125.)
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