Mutiple choice: A hospitality company is the maker of an $18,000 note to be paid in quarterly installments of $3,000 each. The first payment is to be made on June 30. How will the note be represented on the balance sheet for May 31? A. $18,000 long-term liability B. $3,000 expense, $15,000 long-term liability C. $3,000 expense, $9,000 current liability, $6,000 long-term liability D. $12,000 current liability, $6,000 long-term liability
Mutiple choice: A hospitality company is the maker of an $18,000 note to be paid in quarterly installments of $3,000 each. The first payment is to be made on June 30. How will the note be represented on the balance sheet for May 31? A. $18,000 long-term liability B. $3,000 expense, $15,000 long-term liability C. $3,000 expense, $9,000 current liability, $6,000 long-term liability D. $12,000 current liability, $6,000 long-term liability
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Mutiple choice:
A hospitality company is the maker of an $18,000 note to be paid in quarterly
installments of $3,000 each. The first payment is to be made on June 30. How will
the note be represented on the balance sheet for May 31?
A. $18,000 long-term liability
B. $3,000 expense, $15,000 long-term liability
C. $3,000 expense, $9,000 current liability, $6,000 long-term liability
D. $12,000 current liability, $6,000 long-term liability
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