Suppose a hotel has $40,000 of long-term debt at year end. Of this amount, $10,000 must be repaid within the next year. Which of the following statements is true? Select one: O a. The classified balance sheet would show $30,000 of long-term debt under the heading "Long-term liabilities." o b. THE classified balance sheet would show $30,000 of long-term debt under the heading "Current liabilities." O c. The classified balance sheet would show $40,000 of long-term debt under the heading "Long-term liabilities." O d. The classified balance sheet would show $40,000 of long-term debt under the heading "Current liabilities." Previous page Next page The total interest charged on a $300,000 note payable, at the rate of 8%, on a 60-day note would be: Select one: O a. $6,000. O b. $4,000. O c. $24,000. O d. $17.776. At the beginning of 2018, SUN Corporation began offering a 2-year warranty on its products. The warranty program was expected to cost STAR 5% of net sales. Net sales made under warranty in 2018 were $180 million. Fifteen percent of the units sold were returned in 2018 and repaired or replaced at a cost of $5.3 million. The amount of repair parts on STAR's 2018 Balance sheet is: Select one: O a. $ 7.2 million O b. $ 9.0 million. O c. $ 27.0 million O d. $ 5.3 million. Previous page Next page