At December 31, 2012, Redmond Company has outstanding three long-term debt issues. The first is a $2,000,000
Question:
At December 31, 2012, Redmond Company has outstanding three long-term debt issues. The first is a $2,000,000 note payable which matures June 30, 2015. The second is a $6,000,000 bond issue which matures September 30, 2016. The third is a $12,500,000 sinking fund debenture with annual sinking fund payments of $2,500,000 in each of the years 2014 through 2018.
Instructions
Prepare the required note disclosure for the long-term debt at December 31, 2012.
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