Question
Blossom Company issued a five-year interest-bearing note payable for $354000 on January 1, 2016. Each January the company is required to pay $71000 on the
Blossom Company issued a five-year interest-bearing note payable for $354000 on January 1, 2016. Each January the company is required to pay $71000 on the note. How will this note be reported on the December 31, 2017, balance sheet?
Long-term debt, $283000
Long-term debt of $283000; Long-term Debt due within one year, $71000
Long-term debt, $212000; Long-term Debt due within one year, $71000
Long-term debt, $354000
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College Accounting Chapters 1-15
Authors: James A Heintz, Robert W Parry
19th Edition
0324376162, 978-0324376166
