Question
VanGuard Goods fiscal year ends on December 31. At the end of the 2019 fiscal year, the company had notes payable of $12 million due
VanGuard Goods fiscal year ends on December 31. At the end of the 2019 fiscal year, the company had notes payable of $12 million due on February 8, 2020. VanGuard issued 2 million shares of common stock on February 2, 2020 for $9 million. The proceeds from that issuance along with $3 million from the maturation of some 3-month CDs were used to pay the notes payable on February 8. Vanguards financial statements were issued on February 23, 2020. What amount, if any, related to the notes payable described should VanGuard report among current liabilities on its December 31, 2018 balance sheet?
A$ 0.
B$ 3 million.
C.$ 9 million.
D.$12 million.
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