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how to find the current portion of bank loan payable the liabilities in the statement of financial position These items are taken from the financial
how to find the current portion of bank loan payable
the liabilities in the statement of financial position
These items are taken from the financial statements of Bridgeport Corp. at December 31, 2018. Buildings $95,220 Accounts receivable 11,340 Prepaid insurance 4,212 Cash 10,656 Equipment 74,160 Land 55,080 Office expense 522 Income tax expense 180 Depreciation expense 4,770 Interest expense 2,340 Common shares 55,800 Retained earnings (January 1, 2018) 36,000 Accumulated depreciation-building 41,040 Accounts payable 7,560 Income taxes payable 990 Bank loan payable (due July 1, 2020) 84,240 Accumulated depreciation-equipment 16,848 Interest payable 3,240 Sales 12,762Step by Step Solution
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