Tri-County Medical Group borrowed $1,050,000 on July 1, 2016, by issuing a 5 percent long-term note payable

Question:

Tri-County Medical Group borrowed $1,050,000 on July 1, 2016, by issuing a 5 percent long-term note payable that must be paid in three equal annual installments plus interest each July 1 for the next three years.

Requirement

Insert the appropriate amounts to show how Tri-County Medical Group would report its current and long-term liabilities.

December 31 2017 2016 2018 Current Liabilities: Current Portion of Long-Term Note Payable | $ Interest Payable Long-Term

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Financial Accounting

ISBN: 978-0134436111

4th edition

Authors: Robert Kemp, Jeffrey Waybright

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Question Posted: Nov 17, 2017 09:09 AM

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Tri-County Medical Group borrowed $1,050,000 on July 1, 2016, by issuing a 5 percent long-term note payable

Question:

December 31 2017 2016 2018 Current Liabilities: Current Portion of Long-Term Note Payable | $ Interest Payable Long-Term Liabilities: Long-Term Note Payable %24

Step by Step Answer:

December 31 2016 2017 2018 Current Liabilities Current Portion ...View the full answer

Financial Accounting

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