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Athens Bank entered into a loan agreement with Peony Bakeries on April 1,2022. The...

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Accounting

Athens Bank entered into a loan agreement with Peony Bakeries on April 1,2022. The note receivable has a face value of $1,200,000 and an interest rate of 5%, which is appropriate for a note of this type. The note calls for five fixed payments of $277,170 that will be received on April 1st of each year, beginning in 2023. After the final payment is received, the note receivable balance will be $0. What are current and long term portions on the balance sheet

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