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On December 31,2025 , Whispering Company had $3,000,000 of short-term debt in the form of notes payable due February 2,2026. On January 21, 2026, the
On December 31,2025 , Whispering Company had $3,000,000 of short-term debt in the form of notes payable due February 2,2026. On January 21, 2026, the company issued 50,000 shares of its common stock for $47 per share, receiving $2,350,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2026, the proceeds from the stock sale, supplemented by an additional $650,000 cash, are used to liquidate the $3,000,000 debt. The December 31,2025 , balance sheet is issued on February 23,2026. Show how the $3,000,000 of short-term debt should be presented on the December 31, 2025, balance sheet. (Enter account name only and do not provide descriptive information.)
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