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On December 1, 2016 fine dining products borrowed $88000 on a 11%, 8 note with annual installment payments of $11000 plus interest due on December
On December 1, 2016 fine dining products borrowed $88000 on a 11%, 8 note with annual installment payments of $11000 plus interest due on December 1 of each succeeding year. On December 1 the principal amount was recorded as a long term not payable. What amount of the note payable will be shown as current portion of Long term Note Payable on the balance sheet as of December 31, 2016?
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th Edition
978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018
