On January 1, 2020, a company issued a $30,000 three-year, 4% note payable, repayable in 12 quarterly installments with fixed principal payments. How much would be presented as the current portion of note payable on the December 31, 2020 balance sheet? Group of answer choices $2,500 $10,000 $2,600 $11,200
On January 1, 2020, a company issued a $30,000 three-year, 4% note payable, repayable in 12 quarterly installments with fixed principal payments. How much would be presented as the current portion of note payable on the December 31, 2020 balance sheet? Group of answer choices $2,500 $10,000 $2,600 $11,200
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter14: Long-term Liabilities: Bonds And Notes
Section: Chapter Questions
Problem 11E
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On January 1, 2020, a company issued a $30,000 three-year, 4% note payable, repayable in 12 quarterly installments with fixed principal payments. How much would be presented as the current portion of note payable on the December 31, 2020 balance sheet? Group of answer choices $2,500 $10,000 $2,600 $11,200
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