An annual report of Marriott International, Inc., contained a rather lengthy narrative entitled "Liquidity and Capital Resources." The narrative noted that a revolving credit agreement outstanding at the end of the year aggregated $4.5 billion and that during the following year, "While any outstanding commercial paper borrowings and/or borrowings under our Credit Facility generally have short-term maturities, we classify the outstanding borrowings as long-term based on our ability and intent to refinance the outstanding borrowings on long-term basis. The Credit Facility expires on June 28, 2024." Required: How did Marriott report the debt in its balance sheet? Why? L013-7 IFRS Consider the information presented in [E 13-11. Required: 1. How would Marriott report the debt in its balance sheet if it reported under IFRS? Why? 2. Would your answer to requirement 1 change if Marriott obtained its long-term credit facility after the balance sheet date? Why? An annual report of Marriott International, Inc., contained a rather lengthy narrative entitled "Liquidity and Capital Resources." The narrative noted that a revolving credit agreement outstanding at the end of the year aggregated $4.5 billion and that during the following year, "While any outstanding commercial paper borrowings and/or borrowings under our Credit Facility generally have short-term maturities, we classify the outstanding borrowings as long-term based on our ability and intent to refinance the outstanding borrowings on long-term basis. The Credit Facility expires on June 28, 2024." Required: How did Marriott report the debt in its balance sheet? Why? L013-7 IFRS Consider the information presented in [E 13-11. Required: 1. How would Marriott report the debt in its balance sheet if it reported under IFRS? Why? 2. Would your answer to requirement 1 change if Marriott obtained its long-term credit facility after the balance sheet date? Why