Preparing a Debt Disclosure As of December 31, 2020, Dole Company’s long-term debt consisted of the following: $146,050—Unsecured note payable to bank due 2021. $517,500—Unsecured note payable to bank due 2023. $690,000—Unsecured note payable to bank due 2025. $103,500—Secured mortgage payable to bank due in equal installments 2021 through 2025. $184,000—Secured note payable to bank due in 2026. Prepare the required financial statement disclosure at December 31, 2020, indicating the amounts due in each of the next five years and thereafter. Note Payable Year 1 2021 Year 2 2022 Year 3 2023 Year 4 2024 Year 5 2025 Thereafter $146,050 Answer Answer Answer Answer Answer Answer 517,500 Answer Answer Answer Answer Answer Answer 690,000 Answer Answer Answer Answer Answer Answer 103,500 Answer Answer Answer Answer Answer Answer 184,000 Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer
Preparing a Debt Disclosure As of December 31, 2020, Dole Company’s long-term debt consisted of the following: $146,050—Unsecured note payable to bank due 2021. $517,500—Unsecured note payable to bank due 2023. $690,000—Unsecured note payable to bank due 2025. $103,500—Secured mortgage payable to bank due in equal installments 2021 through 2025. $184,000—Secured note payable to bank due in 2026. Prepare the required financial statement disclosure at December 31, 2020, indicating the amounts due in each of the next five years and thereafter. Note Payable Year 1 2021 Year 2 2022 Year 3 2023 Year 4 2024 Year 5 2025 Thereafter $146,050 Answer Answer Answer Answer Answer Answer 517,500 Answer Answer Answer Answer Answer Answer 690,000 Answer Answer Answer Answer Answer Answer 103,500 Answer Answer Answer Answer Answer Answer 184,000 Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Preparing a Debt Disclosure
As of December 31, 2020, Dole Company’s long-term debt consisted of the following:
- $146,050—Unsecured note payable to bank due 2021.
- $517,500—Unsecured note payable to bank due 2023.
- $690,000—Unsecured note payable to bank due 2025.
- $103,500—Secured mortgage payable to bank due in equal installments 2021 through 2025.
- $184,000—Secured note payable to bank due in 2026.
Prepare the required financial statement disclosure at December 31, 2020, indicating the amounts due in each of the next five years and thereafter.
| Note Payable |
Year 1 2021 |
Year 2 2022 |
Year 3 2023 |
Year 4 2024 |
Year 5 2025 |
Thereafter |
|---|---|---|---|---|---|---|
| $146,050 | Answer | Answer | Answer | Answer | Answer | Answer |
| 517,500 | Answer | Answer | Answer | Answer | Answer | Answer |
| 690,000 | Answer | Answer | Answer | Answer | Answer | Answer |
| 103,500 | Answer | Answer | Answer | Answer | Answer | Answer |
| 184,000 | Answer | Answer | Answer | Answer | Answer | Answer |
| Answer | Answer | Answer | Answer | Answer | Answer |
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