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Tyeso Company has the following accounts in its liabilities section of the Balance Sheet as of December 31, 2020: Credit Balance in customers' accounts                P120,000 Accounts Payable, net of debit balance from a supplier's account of P64,000                                   211,000 Stock dividends Payable                             23,000 Note Payable, due 12/31/21                         400,000 Note Payable, due 5/30/22                        200,000 How much of the above amounts shall be reported as current liabilities as of December 31, 2020? a.    P795,000        b. P667,000        c. P731,000        d. P818,000

Tyeso Company has the following accounts in its liabilities section of the Balance Sheet as of December 31, 2020: Credit Balance in customers' accounts                P120,000 Accounts Payable, net of debit balance from a supplier's account of P64,000                                   211,000 Stock dividends Payable                             23,000 Note Payable, due 12/31/21                         400,000 Note Payable, due 5/30/22                        200,000 How much of the above amounts shall be reported as current liabilities as of December 31, 2020? a.    P795,000        b. P667,000        c. P731,000        d. P818,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Tyeso Company has the following accounts in its liabilities section of the Balance Sheet as of December 31, 2020: Credit Balance in customers' accounts                P120,000 Accounts Payable, net of debit balance from a supplier's account of P64,000                                   211,000 Stock dividends Payable                             23,000 Note Payable, due 12/31/21                         400,000 Note Payable, due 5/30/22                        200,000 How much of the above amounts shall be reported as current liabilities as of December 31, 2020? a.    P795,000        b. P667,000        c. P731,000        d. P818,000
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