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65 and 66 14 65.(2 points each) Linten Company has these obligations at December 31. For ench show how the amount (s) that is (are
65 and 66
14 65.(2 points each) Linten Company has these obligations at December 31. For ench show how the amount (s) that is (are current or long-term obligation indicate whether it should be classified as a current liability. For each obligation, Obligation Current Liability Long-term Liability a note payable for $100,000 due in 2 years a 10-year mortgage payable of $200,000 payable in ten $20,000 annual payments interest payable of $15,000 on the mortgage accounts payable of $60,000 66. (8 points) (4 points) on March 1, Saddle Inc. issues $300,000, 10-year, 8% bonds at 98. Prepare the journal entry to record the sale of these bonds. (4 points) Prior to maturity, when the carrying value of the bonds was $297,400, the company redeemed the bonds at 96. Determine the amount of gain or loss. Show whether it is a gain or a loss Step by Step Solution
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