On march 1 2016 baker services issued a 7 long-term notes, Accounting Basics

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On march 1 2016 baker services issued a 7 long-term notes

Problem

On March 1, 2016, Baker Services issued a 7% long-term notes payable for $16,000. It is payable over a 4-year term in $4,000 annual principal payments on March 1 of each year plus interest, beginning March 1, 2017. How will the notes payable be shown on the balance sheet dated December 31, 2016?

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Accounting Basics: On march 1 2016 baker services issued a 7 long-term notes

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