Question: A Moving to another question will save this response. Question 1 of 3 > Question 1 10 points Save Answer Petrocelli Company obtains $40,000 in

 A Moving to another question will save this response. Question 1

A Moving to another question will save this response. Question 1 of 3 > Question 1 10 points Save Answer Petrocelli Company obtains $40,000 in cash by signing a 7%, 6-month, $40,000 note payable to First Bank on July 1. Petrocelli's fiscal year ends on September 30. What information should be reported for the note payable in the annual financial statements? What amount should be reported as at the end of the accounting period: Current liability 40000 Non-current liability Expense 700 and Cash required on calendar year end date A Moving to another question will save this response. Question 1 of 3 > >>

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