Indicate (by letter) the way each of the items listed below should be reported in a balance
Question:
Indicate (by letter) the way each of the items listed below should be reported in a balance sheet at December 31, 2024.
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Item 1. Commercial paper 2. Noncommitted line of credit 3. Customer advances 4. Estimated quality-assurance warranty cost 5. Accounts payable 6. Long-term bonds that will be callable by the creditor in the upcoming year unless an existing violation is not corrected (there is a reasonable possibility the violation will be corrected within the grace period) 7. Note due March 3, 2025 8. Interest accrued on note, December 31, 2024 9. Short-term bank loan to be paid with proceeds of sale of common stock 10. A determinable gain that is contingent on a future event that appears extremely likely to occur in three months 11. Unasserted assessment of taxes owed on prior-year income that probably will be asserted, in which case there would probably be a loss in six months 12. Unasserted assessment of taxes owed on prior-year income with a reasonable possibility of being asserted, in which case there would probably be a loss in 13 months 13. A determinable loss from a past event that is contingent on a future event that appears extremely likely to occur in three months 14. Note payable due April 4, 2027 15. Long-term bonds callable by the creditor in the upcoming year that are not expected to be called Reporting Method N. Not reported C. Current liability L. Long-term liability D. Disclosure note only A. Asset
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