A trader was preparing her statement of financial position at 30 June 2021. She had four bank loans. | loan | date repayable | $\$$ | | :---: | :---: | ---: | | I | 1 December 2021 | 5000 | | II | 1 December 2022 | 10000 | | III | 1 September 2023 | 8000 | | IV | 1 December 2025 | 6000 | What was the total amount of loans that should be recorded as non-current liabilities at 30 June 2021?
Explanation
The loans that should be recorded as non-current liabilities at 30 June 2021 are loan III (repayable on 1 September 2023) and loan IV (repayable on 1 December 2025). The total amount of these loans is $8000 + $6000 = $23000.
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