At the end of its first quarter in the 2018 fiscal year, Brandon Corporation had an undrawn

Question:

At the end of its first quarter in the 2018 fiscal year, Brandon had an undrawn facility that allowed the company to borrow up to $16 million and pay it down whenever it wants to. How should this be reported on the statement of financial position?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Line of Credit
A line of credit (LOC) is a preset borrowing limit that can be used at any time. The borrower can take money out as needed until the limit is reached, and as money is repaid, it can be borrowed again in the case of an open line of credit. A LOC is...