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At the financial statement date of December 31, 2020 the liabilities outstanding of Pollard Corporation included the following 1. Cash dividends on common stock 550.000,

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At the financial statement date of December 31, 2020 the liabilities outstanding of Pollard Corporation included the following 1. Cash dividends on common stock 550.000, cuyable on January 15, 2021 2. Note pavable to Wabato State Bank 5470.000, due January 20, 2021 3. Serial bonds. $1.800.000, of which 3450.000 mature during 2021 4. Note payable to Orlando National Bank $300.000, due January 27, 2021 The following transactions occurred early in 2021 January 15: The cash dividends on common stock were paid January 20: The note payable to Wabase State Bank was paid January 25: The corporation entered into a financing agreement with Wabaso State Bank enabling it to borrow up to $500.000 at any time through the end of 2023. Amounts borrowed under the agreement would bear interest at 1% above the bank's prime rate and would mature 3 years from the date of the low. The corporation immediately borowed 5400.000 to replace the cash used in paying its any 20 note to the bank January 26 40.000 shares of common stock we issued for $350,000 $300,000 of the proceeds was used to liquidate the note payable to Orlando National Bank February 1: The financial statements for 2020 W issued. Instructions Prepare a partial balance sheet for Poland Corporation showing the manner in which the above babes should be presented at December 31, 2020. The Habilities should be properly classified between and long-term, and appropriate stedioure should be included Ed View Inwert Format Toolti 222 EF a

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