On January 1. 2020, Sheridan Company, a calendar-year company, issued S608000 of notes payable, of which $152000 is due on January 1 for each of the next four years. Ignoring interest the proper balance sheet presentation on December 31, 2020, is O Current Liabilities, $152000; Long-term Debt, $456000. O Long-term Debt. S608000. O Current Liabilities, S608000. O Current Liabilities, $456000; Long-term Debt, $152000.

On January 1. 2020, Sheridan Company, a calendar-year company, issued S608000 of notes payable, of which $152000 is due on January 1 for each of the next four years. Ignoring interest the proper balance sheet presentation on December 31, 2020, is O Current Liabilities, $152000; Long-term Debt, $456000. O Long-term Debt. S608000. O Current Liabilities, S608000. O Current Liabilities, $456000; Long-term Debt, $152000.

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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