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On December 1, 2024, Modern Dining Products borrowed $90,000 on a 5%, 10 - year note with annual installment payments of $9,000 plus interest due
On December 1, 2024, Modern Dining Products borrowed $90,000 on a 5%, 10 - year note with annual installment payments of $9,000 plus interest due on
December 1 of each succeeding year. On December 1, the principal amount was recorded as a long - term note 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, 2024? (Round your answer to nearest whole number.)
O A. $9,000
B. $13,500
O C. $18,000
D. $4,500
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Accounting For Deferred Income Taxes
Authors: Bobby Carmichael
2nd Edition
1119724562, 9781119724568
