Waite Corporation issued a $50,000, 10%, 10-year installment note payable on eeereege of installment note _J anuary
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Waite Corporation issued a $50,000, 10%, 10-year installment note payable on eeereege of installment note —_J anuary 1, 2017. Payments of $8,137 are made each January 1, beginning January 1, 2018.
payable.
(LO 7), AP Instructions
(a) What amounts should be reported under current liabilities related to the note on December 31, 2017?
(b) What should be reported under long-term liabilities?
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Related Book For
Financial Accounting Tools For Business Decision Making
ISBN: 9781119316022
8th Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
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