Required:

please review the note disclosures provided in your focus company's annual report and identify at least three items being reported as noncurrent $($long$-$term$)$ liabilities. Discuss what you've learned about these items and how they are presented on the balance sheet.

Other accrued liabilities$-$interest $($Note: This is an analytical assignment involving

Case $7\mathrm{.}34$

the interpretation of financial statement disclosures.$)$ A review of the accounting

LO $1,5,7,8$

records at Corlere outstanding at December $31,2020$ and $2019,$ respectively:

Required:

a$.$ Corless $Co.$ has not yet made an adjustment to accrue the interest expense related to its working capital loans for the year ended December $31,2020.$ Assume that the amount of interest to be accrued can be accurately estimated using an average$-$for$-$the$-$year interest rate applied to the average liability balance. Use