On January 1, 2017, Blossom Company, a calendar-year company, issued $1080000 of notes payable, of which $270000 is due on January 1 for each of
On January 1, 2017, Blossom Company, a calendar-year company, issued $1080000 of notes payable, of which $270000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2017, is:
|
| Current liabilities, $270000; Long-term Debt, $810000. |
|
| Current liabilities, $810000; Long-term Debt, $270000. |
|
| Current liabilities, $1080000. |
|
| Long-term debt, $1080000. |
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Authors: Stephen Asbury
3rd Edition
0815375395, 978-0815375395
