Question
Multiple Choice Question 95 Vaughn owes $4.4 million that is due on February 28. The company borrows $3670000 on February 25 (5-year note) and uses
Multiple Choice Question 95
Vaughn owes $4.4 million that is due on February 28. The company borrows $3670000 on February 25 (5-year note) and uses the proceeds to pay down the $4.4 million note and uses other cash to pay the balance. How much of the $4.4 million note is classified as long-term in the December 31 financial statements?
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Accounting For Managers Interpreting Accounting Information For Decision Making
Authors: Paul M. Collier
5th Edition
111900294X, 978-1119002949
