Rodriguez Corporation includes the following items in its liabilities at December 31, 2012. 1. Notes payable, $25,000,000,

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Rodriguez Corporation includes the following items in its liabilities at December 31, 2012.

1. Notes payable, $25,000,000, due June 30, 2013.
2. Deposits from customers on equipment ordered by them from Rodriguez, $6,250,000.
3. Salaries payable, $3,750,000, due January 14, 2013.

Instructions
Indicate in what circumstances, if any, each of the three liabilities above would be excluded from current liabilities.

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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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Question Posted: Sep 15, 2022 05:20 AM

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Rodriguez Corporation includes the following items in its liabilities at December 31, 2012. 1. Notes payable, $25,000,000,

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Answer 1 Notes payable This liability would be excluded from current liabilities if it is due after ...View the full answer

Intermediate Accounting

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