Question: This continues the Pure Water Inc example from the Continuing

This continues the Pure Water, Inc., example from the Continuing Problem in Chapter 8. Pure Water, Inc., purchased some of its fixed assets during 201 2 using long-term debt. The following table summarizes the nature of this long-term debt. Assume the fiscal year ends on December 31 .



Requirements
1 . C alculate the interest expense that Pure Water, Inc., should accrue as of December 31 , 201 2. Round your answer to the nearest dollar. Use 365 days for the note payable.
2. Prepare the balance sheet presentation at December 31 , 201 2 for all long-term debt indicating the portion that should be classified as current and the portion that should be classified aslong-term.


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  • CreatedApril 29, 2014
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