On January 1, 2020, Sunland Company, a calendar-year company, issued $897000 of notes payable, of whic January 1 for each of the next four years. Ignoring interest, the proper balance sheet presentation on Decer O urrent Liabilities, $448500; Long-term Debt, $448500. O Long-term Debt, $897000. O urrent Liabilities, $224250; Long-term Debt, $672750.

On January 1, 2020, Sunland Company, a calendar-year company, issued $897000 of notes payable, of whic January 1 for each of the next four years. Ignoring interest, the proper balance sheet presentation on Decer O urrent Liabilities, $448500; Long-term Debt, $448500. O Long-term Debt, $897000. O urrent Liabilities, $224250; Long-term Debt, $672750.

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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