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Marigold owes $3.7 million that is due on February 28. The company borrows $3010000 on February 25 (5-year note) and uses the proceeds to pay

Marigold owes $3.7 million that is due on February 28. The company borrows $3010000 on February 25 (5-year note) and uses the proceeds to pay down the $3.7 million note and uses other cash to pay the balance. How much of the $3.7 million note is classified as long-term in the December 31 financial statements? please explain

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