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Exercise 2. Miller Company has a Mortgage Note Payable (instaliment Note) of $350,000 on December 31, 20x1. Druring 2002 the amount of principle due to
Exercise 2. Miller Company has a Mortgage Note Payable (instaliment Note) of $350,000 on December 31, 20x1. Druring 2002 the amount of principle due to be paid on the Mortgage is $23,000. a) What should be the amount shown on the Dec 31, 20x1 Balance Sheet in the Current tiability section for Notes Piwabie? b) It this is the only note that the company has signed, what should be the amount shown on the Dec.31 Balance Sheet in the tong Term Uability section for Mortgage Notes Payable? Exercise 3. Milker Compary is evaluating 2 different notes and how they will affect the company. Please fill in the follwischari. Which note woild you suggest for the Miller Compony and WHY
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