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What the current and long-term portions of the loan

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Problem 1: A company has a $48,000 loan to be paid off over 24 months. Principal payments are $2,000 per month. Assume one payment has been made. The current and long-term portions of the loan after the payment:

Option a) $48,000 current and $0 long-term

Option b) $24,000 current and $22,000 long-term

Option c) $24,000 current and $24,000 long-term

Option d) $22,000 current and $24,000 long-term

Reference no: EM132581411

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