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24. XYZ Company's yearend is December 31, 20x1 and its financial statements are issued in the following March. On January 24, 20x2. A 10 year

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24. XYZ Company's yearend is December 31, 20x1 and its financial statements are issued in the following March. On January 24, 20x2. A 10 year note payable came due and was paid by issuing XYZ common stock to the creditor. In its December 31, 20x1 balance sheet, XYZ should a. Report the note as a current liability because it was due on January 24, 20x2 - only 24 days after the year end. b. Report the note as a long-term liability because it was not paid off with a current asset or replaced by another current liability. c. Report the note as a long-term liability because it was extinguished (paid off) on January 24, 20x2 - only 24 days after the year end. d. Report the note as a long-term liability because it was a 10 year

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