Accounts payable are recorded on the books at their Onet present value. net amount O net realizable value. face value. View Policies Current Attempt in Progress The accounts payable turnover ratio measures O number of times the company settles its trade payable. O average accounts payable balance. the average number of times the industry settles their trade payable. the average balance of accounts payable to current assets. TAL Current Attempt in Progress On July 31, 2020, Able Co. has a $500,000 15-year mortgage outstanding Over the next year the company will make 12 monthly payments of $5,000 representing $33,500 of interest and $26.500 of principal repayment. Which of the following best represents how the mortgage will be reported on the July 31, 2020 statement of financial position? Non-current Current liabilities Ilabilities $26.500 $473,500 $26.500 $440,000 $60,000 $440,000 $60,000 $473.500 Radio Hut Inc offers a two-year assurance warranty against failure of its products. The estimated liability is 1.5% in the year of sale and 3% in the second year. Sales and actual warranty expense for 2020 and 2021 were: Sales Actual Warranty Costs incurred During Year 2020 $3,500,000 $110,000 $3,900,000 $195,000 The warranty provision on the December 31, 2020 statement of financial position sheet was 2021 $47,500 O $105,000 $110,000 $157.500 A short-term liability used by a company to finance the purchase of current assets and that is often secured by accounts receivable or inventory is referred to as aln) O accounts payable. O current liability line of credit overdraft protection