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On September 1, 2024, Venetian Airlines borrows $40.5 million, of which $9.0 million is due next year. Show how Venetian Airlines would report the $40.5 million debt on its December 31, 2024, balance sheet. (Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.) Current liabilities: VENETIAN AIRLINES Partial Balance Sheet December 31, 2024 Current portion of long-term debt Long-term liabilities: Notes payable Total liabilities

On September 1, 2024, Venetian Airlines borrows $40.5 million, of which $9.0 million is due next year. Show how Venetian Airlines would report the $40.5 million debt on its December 31, 2024, balance sheet. (Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.) Current liabilities: VENETIAN AIRLINES Partial Balance Sheet December 31, 2024 Current portion of long-term debt Long-term liabilities: Notes payable Total liabilities

FINANCIAL ACCOUNTING
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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On September 1, 2024, Venetian Airlines borrows $40.5 million, of which $9.0 million is due next year. Show how Venetian Airlines would report the $40.5 million debt on its December 31, 2024, balance sheet. (Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.) Current liabilities: VENETIAN AIRLINES Partial Balance Sheet December 31, 2024 Current portion of long-term debt Long-term liabilities: Notes payable Total liabilities
Transcribed Image Text:On September 1, 2024, Venetian Airlines borrows $40.5 million, of which $9.0 million is due next year. Show how Venetian Airlines would report the $40.5 million debt on its December 31, 2024, balance sheet. (Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.) Current liabilities: VENETIAN AIRLINES Partial Balance Sheet December 31, 2024 Current portion of long-term debt Long-term liabilities: Notes payable Total liabilities
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