Question
A company has a short-term obligation of $120,000 due on February 15, 2015, the lender agrees to extend the maturity date to February 1, 2016.
A company has a short-term obligation of $120,000 due on February 15, 2015, the lender agrees to extend the maturity date to February 1, 2016. The agreement is signed on December 18, 2014. The financial statements are authorized for issuance on March 31, 2015. how this transaction should be reported in the financial statement on December 31, 2014. NON-Current Labilities
Current Labilit
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Financial & Managerial Accounting For Undergraduates
Authors: Jason Wallace, James Nelson, Karen Christensen, Theodore Hobson, Scott L. Matthews
2nd Edition
161853310X, 9781618533104
