Current and Long Term portion of long term note payable: While recording the liability of a long term note payable, the current portion of such note payable is recorded as a current liability. To determine: The journal entries required to be passed for this transaction.

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Chapter 11, Problem S11.5SE

To determine

Current and Long Term portion of long term note payable: While recording the liability of a long term note payable, the current portion of such note payable is recorded as a current liability.

To determine:

The journal entries required to be passed for this transaction.

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