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1 current or non current liability Taylor Company has the following obligations at December 31: (a) a note payable for $10,000 due in six months;
1 current or non current liability
Taylor Company has the following obligations at December 31: (a) a note payable for $10,000 due in six months; (b) unearned revenue of $12,500; (c) interest payable of $15,000; (d) accounts payable of $60,000; and (e) note payable due in two years. For each obligation, indicate whether or not it should be classified as a current liability For each scenario, determine if the liability should be classified as a current or non-current liability. (a) a note payable for $10,000 due in six months (b) unearned revenue of $12,500 (c) interest payable of $15,000 (d) accounts payable of $60,000 (e) note payable due in two yearsStep by Step Solution
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