Vaughn luxuries company issued a four-year interest-bearing note payable for $599000 on January 1, 2020 each January

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Vaughn luxuries company issued a four-year interest-bearing note payable for $599000 on January 1, 2020 each January the company is required to pay $149750 on the note how will this note be reported on the December 31, 2021 balance sheet?

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Fundamental Accounting Principles Volume II

ISBN: 978-1260305838

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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Posted Date: Oct 28, 2020 07:48 PM

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Vaughn luxuries company issued a four-year interest-bearing note payable for $599000 on January 1, 2020 each January

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The first 59000 has been paid in 2020 So the remaining balance in notes payable is 4492... View the full answer

Fundamental Accounting Principles Volume II

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