At the beginning of the quarter, your company borrows $20,000 by signing a four-year promissory note that states an annual interest rate of 8% plus principal repayments of $5,000 each year. Interest is paid at the end of the second and fourth quarters, whereas principal payments are due at the end of each year. How does this new promissory note affect the current and non-current liability amounts reported on the balance sheet at the end of the first quarter? 
Definitions:
Demand Pattern
A demand pattern is a trend observed in the way consumer demand for goods or services changes over time.
Second Order
An additional request or transaction following an initial one, often implying a follow-up or repeat business.
Total Order
Total order is the complete quantity of goods or services requested by a customer at a particular time.
Demand Pattern
The trend or tendency of buyers purchasing certain quantities of a product at various times.
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