Question: In its December 31, 2010 balance sheet, what amount should House report as note payablecontest winner, net of current portion? a. $368,250 b. $418,250 c.

In its December 31, 2010 balance sheet, what amount should House report as note payable—contest winner, net of current portion?

a. $368,250

b. $418,250

c. $900,000

d. $950,000

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