Nettie Inc. signed a 4 year note for $40,000 on August 1, 2019. $10,000 is due each

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Nettie Inc. signed a 4 year note for $40,000 on August 1, 2019. $10,000 is due each year with the first payment due on August 1, 2020. How will this be shown on the balance sheet at December 31, 2019? Group of answer choices

$40,000 will be recorded as a noncurrent liability

$30,000 will be recorded as a noncurrent liability

$40,000 will be recorded as a current liability

$10,000 will be recorded as a noncurrent liability

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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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Posted Date: Feb 12, 2024 01:56 AM

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Nettie Inc. signed a 4 year note for $40,000 on August 1, 2019. $10,000 is due each

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Intermediate Accounting

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