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On January 1, 2021, Marigold Company, a calendar-year company, issued $892000 of notes payable, of which $223000 is due on January 1 for each of
On January 1, 2021, Marigold Company, a calendar-year company, issued $892000 of notes payable, of which $223000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2021, is Current Liabilities, $892000. Current Liabilities, $446000; Long-term Debt, $446000. Long-term Debt. $892000 O Current Liabilities. $223000; Long-term Debt, $669000
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th Edition
978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018
