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Specify what amounts will be reported as a current liability and/or long-term liability in the December 31, 2019 financial statements (5 points). Illini intends to
Specify what amounts will be reported as a current liability and/or long-term liability in the December 31, 2019 financial statements (5 points). Illini intends to refinance their $14 million bonds that are scheduled to mature on July 31, 2020. In early February (prior to filing their year-end financial statements with the SEC), Illini secured additional financing for $9 million of new bonds that mature on July 31, 2025. Multiple Choice $5 Million Current Liability; $9 Million Long-Term Liability $0 Currrent Liability; $14 Million Long-Term Liability $7 Million Current Liability; $7 Million Long-Term Liability $14 Million Current Liability; $0 Long-Term Liability
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