Answer:
At 2018 year end,no debt obligation is due to mature,hence disclosure at 31 December,2017 is zero
At 2019 year end,sinking fund payments and note payable are due, hence the disclosure in that regard at 31st December 2017 is $4,784,000
At 2020 year end,bonds and sinking fund payments mature,as a result the disclosed amount is $8,482,000 in respect 31st December 2017 .
At 2021 year end,only sinking fund is due for payment leading to disclosure of $2,734,000 as at 31st December,2017.
The figures are shown down the line.
Explanation:
Long-term debt is a debt that is repayable in more than a year's time.
Note payable is an agreement between companies issuing the notes and the investors investing in the notes that the amount invested in the notes would be repaid to investors as well as the interests thereon.
Sinking Fund is a fund set aside to redeem debt principal at a specified time in future by putting a specific amount in the sinking fund account at intervals,whose interest and principal would be enough to settle loan obligations.
Years Requirment Workings
2018 $0
2019 Sinking fund $2,734,000
2020 Sinking fund and note payable $4,784,000 ($2,050,000 +$2,734,000)
2021 Bond and sinking fund $8,482,000 ($6,750,000 + $2,734,000)
2022 Sinking Fund $2,734,000
