Bon Secour Medical Group borrowed $600,000 on July 1, 2015, by issuing a 14% long-term note payable
Question:
Bon Secour Medical Group borrowed $600,000 on July 1, 2015, by issuing a 14% long-term note payable that must be paid in three equal annual instalments plus interest each July 1 for the next three years.
Requirement
1. Insert the appropriate amounts to show how Bon Secour would report its current and long-term liabilities.
Transcribed Image Text:
December 31 2016 2017 2015 Current Liabilities: Current Portion of Long-Term Note Payable s Interest Payable Long-Term Liabilities: Long-Term Note Payable
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Related Book For
Financial Accounting
ISBN: 978-0133375534
2nd Canadian edition
Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad
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