Barton Chocolates used a promissory note to borrow $1,600,000 on July 1, 2021, at an annual interest rate of 6 percent.

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Barton Chocolates used a promissory note to borrow $1,600,000 on
July 1, 2021, at an annual interest rate of 6 percent. The note is
to be repaid in yearly installments of $320,000, plus accrued
interest, on June 30 of every year until the note is paid in full
(on June 30, 2026). Show how the results of this transaction would
be reported in a classified balance sheet prepared as of December
31, 2021. (Do not round intermediate calculations.)