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At the start of the current year, a company issued a $250,000 note to a bank. The company must pay the bank $50,000 plus interest
At the start of the current year, a company issued a $250,000 note to a bank. The company must pay the bank $50,000 plus interest each January 1 for the next five years starting at the beginning of next year. The company will report the note payable on its current year's balance sheet as Current liabilities, $50,000; Long-term Debt, $200,000. O Current liabilities, $200,000; Long-term Debt, $50,000. Current liabilities, $250,000. O Long-term debt, $250,000. Current liabilities, $125,000; Long-term Debt, $125,000. [
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