Here is my problemI partially answered for March 31 but my question is what would be the long term debt for March 31?Notes payable. Sentry Security Systems purchased $72000 of office equipment on April 1 19X3 by signing a three-year 12% note payable to Sharp Inc. One-third of the principal along with interest on the outstanding balance is payable each April 1 until maturity. (The first payment is due in 19X4.)a. Fill in the following table to reflect Sentrys liabilities assuming a March 31 year-end. March 31 19X4 19X5 19X6Current liabilities $80640 Current portion of long-term debt 32640 Interest payable 8640Long-term liabilities Long-term debt b. Assuming that interest is properly recorded at the end of each year present the proper journal entry to record the last payment on April 1 19X6.Thanks for any help!
