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On November 1,2012,EZ Products Borrowed $48,000 on a 5%,10-Year Note

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On November 1,2012,EZ Products borrowed $48,000 on a 5%,10-year note with annual installment payments of $4,800 plus interest due on November 1 of each succeeding year.
-On December 31,2013,what will the balance be in the account titled Current portion of long-term notes payable?

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Definitions:

Copyright

Intellectual property right that protects the exclusive publication, distribution, and use of original works of authorship.

Patent Issued

The grant of an official right or license by the government to an inventor, allowing exclusive commercial rights to an invention.

Infringement

The violation or unauthorized use of copyrighted material or other intellectual property rights.

Manufacturer

A person or company that makes goods for sale, typically on a large scale involving machinery.

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