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Debtor Inc. had the following debt outstanding on December 31, 2020: $30,000, 5-year note payable, due upon maturity, December 15, 2021 $50,000, 15-year bond payable,
Debtor Inc. had the following debt outstanding on December 31, 2020: $30,000, 5-year note payable, due upon maturity, December 15, 2021 $50,000, 15-year bond payable, due upon maturity, December 15, 2024 $100,000, 10-year note payable, due upon maturity, January 15, 2021, retired with proceeds from the issuance of common stock (where proceeds from the issuance exceed note payable amount) $80,000, 5-year note payable, due upon maturity, December 15, 2024; note is considered callable because Debtor Inc. is currently in violation of a debt covenant On December 31, 2020, Debtor Inc. would report the following as a current liability and a noncurrent liability on its balance sheet: Select one: a. Current Noncurrent Liability Liability $130,000 $130,000 b. Current Noncurrent Liability Liability $180,000 $80,000 c. Current Noncurrent Liability Liability $180,000 $80,000 d. Current Noncurrent Liability Liability $110,000 $150,000
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