Most long-term liabilities are really just: Debt. Expense. Income. Equity. How does a company report the liability in the second year of the term of a note payable for $100,00 with $20,000 annual payments? It would report a current liability of $20,000 and a long-term liability of $60,000. It would report a current liability of $20,000 and a long-term liability of $80,000. It would report a current liability of $40,000 and a long-term liability of $60,000. It would report a long-term liability of $100,000. give me correct answer with correct chocie and explsin why
Most long-term liabilities are really just: Debt. Expense. Income. Equity. How does a company report the liability in the second year of the term of a note payable for $100,00 with $20,000 annual payments? It would report a current liability of $20,000 and a long-term liability of $60,000. It would report a current liability of $20,000 and a long-term liability of $80,000. It would report a current liability of $40,000 and a long-term liability of $60,000. It would report a long-term liability of $100,000. give me correct answer with correct chocie and explsin why
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Most long-term liabilities are really just:
Debt.
Expense.
Income.
Equity.
How does a company report the liability in the second year of the term of a note payable for $100,00 with $20,000 annual payments?
It would report a current liability of $20,000 and a long-term liability of $60,000.
It would report a current liability of $20,000 and a long-term liability of $80,000.
It would report a current liability of $40,000 and a long-term liability of $60,000.
It would report a long-term liability of $100,000.
give me correct answer with correct chocie and explsin why
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