Bon Secour Medical Group borrowed $600,000 on July 1, 2015, by issuing a 14% long-term note payable

Question:

Bon Secour Medical Group borrowed $600,000 on July 1, 2015, by issuing a 14% long-term note payable that must be paid in three equal annual instalments plus interest each July 1 for the next three years.

Requirement

1. Insert the appropriate amounts to show how Bon Secour would report its current and long-term liabilities.

December 31 2016 2017 2015 Current Liabilities: Current Portion of Long-Term Note Payable s Interest Payable Long-Term L

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Financial Accounting

ISBN: 978-0133375534

2nd Canadian edition

Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad

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Question Posted: Feb 12, 2018 10:38 AM

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Bon Secour Medical Group borrowed $600,000 on July 1, 2015, by issuing a 14% long-term note payable

Question:

December 31 2016 2017 2015 Current Liabilities: Current Portion of Long-Term Note Payable s Interest Payable Long-Term Liabilities: Long-Term Note Payable

Step by Step Answer:

December 31 2015 2016 2017 Current Liabilities Current Portion of LongTerm Not...View the full answer

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