At December​ 31, MediDoc Precision Instruments owes $59,000 on Accounts​ Payable, Salaries Payable of $10,000​, and Income Tax Payable of $9,000. MediDoc also has $280,000 of Bonds Payable that were issued at face value that require payment of a $20,000 installment next year and the remainder in later years. The bonds payable require an annual interest payment of $7,000​, and MediDoc still owes this interest for the current year. Report MediDoc​'s liabilities on its classified balance sheet on December​ 31,

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Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.