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On December 3 1 , 2 0 2 4 , L Incorporated had a $ 3 , 3 0 0 , 0 0 0 note
On December L Incorporated had a $ note payable outstanding, due July L borrowed the money to finance construction of a new plant. L planned to refinance the note by issuing longterm bonds. Because L temporarily had excess cash, it prepaid $ of the note on January In February L completed a $ bond offering. L will use the bond offering proceeds to repay the note payable at its maturity and to pay construction costs during On March L issued its financial statements. What amount of the note payable should L include in the current liabilities section of its December balance sheet?
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