On December 1, 2016 fine dining products borrowed $88000 on a 11%, 8 note with annual installment
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On December 1, 2016 fine dining products borrowed $88000 on a 11%, 8 note with annual installment payments of $11000 plus interest due on December 1 of each succeeding year. On December 1 the principal amount was recorded as a long term not payable. What amount of the note payable will be shown as current portion of Long term Note Payable on the balance sheet as of December 31, 2016?
Related Book For
Accounting Volume 1
ISBN: 978-0132690096
9th Canadian edition
Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
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