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:
Fastest Shopping Experience
A retail or e-commerce strategy aimed at minimizing the time customers spend from entering the store or website to completing their purchase.
Amazon.com
A leading online retail platform operated by Amazon, offering a wide range of products from books and electronics to clothing and groceries.
Internet
A global system of interconnected computer networks that use the TCP/IP protocol to communicate between networks and devices.
Reverse Logistics
The process of moving goods from their final destination for the purpose of return, repair, remanufacture, recycling or disposal.
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