Seattle Medical Group borrowed $2,700,000 on July 1, 2012, by issuing a 6% long term note payable

Question:

Seattle Medical Group borrowed $2,700,000 on July 1, 2012, by issuing a 6% long term note payable that must be paid in three equal annual installments plus interest each July 1 for the next three years.

Requirement

1. Insert the appropriate amounts to show how Seattle would report its current andlong termliabilities.

Seattle Medical Group borrowed $2,700,000 on July 1, 2012, by

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Financial Accounting

ISBN: 978-0133052152

2nd edition

Authors: Robert Kemp, Jeffrey Waybright

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Question Posted: Apr 29, 2014 02:57 AM

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Seattle Medical Group borrowed $2,700,000 on July 1, 2012, by issuing a 6% long term note payable

Question:

December 31 2013 2014 2012 Current Liabilities: Current Portion of Long-Term Note Payable $ Interest Payable Long-Term Liabilities: Long-Term Note Payable

Step by Step Answer:

December 31 2012 2013 2014 Current liabilities Current portion of longterm note ...View the full answer

Financial Accounting

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