Betty DeRose, Inc. borrowed $170,000 on January 1, 2024. Theterms of the loan require Betty DeRose to make semi-annualpayments of $23,000 every June 30 and December 31, with thefirst payment being due on June 30, 2024. Assume the loanhas an interest rate of 20%, compounded semi-annually.
Calculate the amount of the note payable at December 31, 2024 that would be classified as a current liability?
