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For the following independent transactions, determine the amount of current and long-term liabilites. Do not enter dollar signs or commas in the input boxes.
For the following independent transactions, determine the amount of current and long-term liabilites. Do not enter dollar signs or commas in the input boxes. No. 1 Transaction On April 30, 2019, Frankie Flowershop borrowed $213,000 from the bank. The entire amount is due on April 29, 2020. NOP Company purchased a small building at a cost of $180,000. The down 2 payment is $70,000. The remaining balance is payable in 4 years with an annual payment of $27,500. During December 2019, a business owner obtained an interest-free loan 3 from a financing company. The loan amount was $47,000. The agreed terms of payment is 5 annual installments of $9,400. A business owner borrowed $15,000 from a close friend for a business 4 expansion. They both signed an agreement that the payment will be made after 3 years. Current Liability Long-Term Liability I
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