Question
Marco Co. has a December 31 fiscal year end, and a five-year, 3.75%, $800,000 note payable issued on May 31, 2021. Marco is required to
Marco Co. has a December 31 fiscal year end, and a five-year, 3.75%, $800,000 note payable issued on May 31, 2021. Marco is required to pay $160,000 plus interest on May 31 each year starting in 2022. What is the amount of:
the current portion of the note payable:
the non-current portion of the note payable:
the note interest payable at December 31, 2021:
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Accounting For Small Business 2023
Authors: Martin J. Kallman
1st Edition
180171925X, 978-1801719254
