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On January 1, 2020, Cullumber Company, a calendar-year company, issued $704000 of notes payable, of which $176000 is due on January 1 for each of
On January 1, 2020, Cullumber Company, a calendar-year company, issued $704000 of notes payable, of which $176000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2020, is: O Current liabilities, $704000. O Current liabilities, $528000; Long-term Debt, $176000. O Long-term debt, $704000. O Current liabilities, $176000; Long-term Debt, $528000. On January 1, 2020. Cullumber Company, a calendar-year company, issued $704000 of notes payable, of which $176000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31,2020 , is: Current liabilities, $704000. Current liabilities, $528000; Long-term Debt, $176000. Long-term debt, $704000. Current liabilities, $176000; Long-term Debt, $528000
On January 1, 2020, Cullumber Company, a calendar-year company, issued $704000 of notes payable, of which $176000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2020, is: O Current liabilities, $704000. O Current liabilities, $528000; Long-term Debt, $176000. O Long-term debt, $704000. O Current liabilities, $176000; Long-term Debt, $528000.
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