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On December 31 , 2021, Broncos inc, had a $2,100,000 note payable outstanding, due in 7 months on July 31, 2022. Broncos planned to refinance

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On December 31 , 2021, Broncos inc, had a $2,100,000 note payable outstanding, due in 7 months on July 31, 2022. Broncos planned to refinance the note by issuing long-term bonds. Because Broncos temporarily had excess cash, it prepaid $560,000 of the note on January 23, 2022. In February 2022 , Broncos completed a $3,600,000 bond offering. Broncos will use the bond offering proceeds to repay the balance on note payable at its maturity and to pay construction costs during 2022. On March 13, 2022, Broncos issued its 2021 financial statements. What amount of the note payable should Broncos include in the current liablities section of its December 31,2021 , balance sheet? Mutipie Choice 5560,000 50. $2,500,000 51,540,000

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