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On September 1, 2021, Southwest Airlines borrows $40.7 million, of which $9.4 million is due next year. Show how Southwest Airlines would record the $40.7
On September 1, 2021, Southwest Airlines borrows $40.7 million, of which $9.4 million is due next year. Show how Southwest Airlines would record the $40.7 million debt on its December 31, 2021, balance sheet. (Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.) SOUTHWEST AIRLINES Partial Balance Sheet December 31, 2021 Current liabilities: Current portion of long-term debt Long-term liabilities: Notes payable Total liabilities On September 1, 2021, Southwest Airlines borrows $40.1 million, of which $8.2 million is due next year. Show how Southwest Airlines would record the $40.1 million debt on its December 31, 2021, balance sheet. (Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.) SOUTHWEST AIRLINES Partial Balance Sheet December 31, 2021 Current liabilities: Current portion of long-term debt Long-term liabilities: Notes payable Total liabilities
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