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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 has $9
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 has $9 million bonds that are scheduled to mature on July 31, 2025. However, the lender has a call option on June 30, 2020. Illini management has a great relationship with the lender. The lender indicated that they do not intend to exercise the call option. Multiple Choice $9 Million Current Liability; $0 Long-Term Liability $0 Currrent Liability; $9 Million Long-Term Liability $4.5 Million Current Liability; $4.5 Million Long-Term Liability Disclosure Note Only
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