14% term note, due 2017 11% term note, due 2019 30,000.00 1,070,000.00 8% note, due in 11 equal annual principal amount plus interest beginning December 31, 2017 1,100,000.00 7% guaranteed debenture, due 2018 1,100,000.00 The annual sinking fund requirement on the guaranteed debentures is 40,000 per year. What total amount should be reported as current liabilities on December 31, 2016? 40,000 70,000 130,000 100,000

14% term note, due 2017 11% term note, due 2019 30,000.00 1,070,000.00 8% note, due in 11 equal annual principal amount plus interest beginning December 31, 2017 1,100,000.00 7% guaranteed debenture, due 2018 1,100,000.00 The annual sinking fund requirement on the guaranteed debentures is 40,000 per year. What total amount should be reported as current liabilities on December 31, 2016? 40,000 70,000 130,000 100,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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