**Question 16** (3 pts)Cryer, Inc. has a $45,000,000 note payable on its balance sheet as of 12/31/19, of which $6,000,000 is due in 2020. Cryer will report the liability as what on its 12/31/19 balance sheet:- ○ A $6,000,000 current liability and a $45,000,000 long-term liability- ○ A $45,000,000 long-term liability- ○ A $45,000,000 current liability- ● A $6,000,000 current liability and a $39,000,000 long-term liability

Total note payable on Dec 31, 2019 = $45,000,000 Notes to be paid in 2020 should be classified as…

Cryer, Inc. has a $45,000,000 note payable on its balance sheet as of 12/31/19, of which $6,000,000 is due in 2020. Cryer will report the liability as what on its 12/31/19 balance sheet: O A $6,000,000 current liability and a $45,000,000 long-term liability O A $45,000,000 long-term liability O A $45,000,000 current liability O A $6,000,000 current liability and a $39,000,000 long-term liability

Cryer, Inc. has a $45,000,000 note payable on its balance sheet as of 12/31/19, of which $6,000,000 is due in 2020. Cryer will report the liability as what on its 12/31/19 balance sheet: O A $6,000,000 current liability and a $45,000,000 long-term liability O A $45,000,000 long-term liability O A $45,000,000 current liability O A $6,000,000 current liability and a $39,000,000 long-term liability

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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