In 2019, Rouchele Co. borrowed $200,000 on a 5% long-term note payable. In each of the following years, Rouchele Co. will pay $25,000 towards the principal plus accrued interest, starting in 2020. Rouchele Co. has a year-end of December 31. Based on this information, Rouchele Co. will report which of the following on its 2019 balance sheet? O $200,000 as long-term debt. O $225,000 as long-term debt. $200,000 as current portion of long-term debt. $25,000 as long-term debt. $25,000 as current portion of long-term debt.

In 2019, Rouchele Co. borrowed $200,000 on a 5% long-term note payable. In each of the following years, Rouchele Co. will pay $25,000 towards the principal plus accrued interest, starting in 2020. Rouchele Co. has a year-end of December 31. Based on this information, Rouchele Co. will report which of the following on its 2019 balance sheet? O $200,000 as long-term debt. O $225,000 as long-term debt. $200,000 as current portion of long-term debt. $25,000 as long-term debt. $25,000 as current portion of long-term debt.

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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