As of December 31, 2021, Desert Company reports that the balance of its Notes Payable account...
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As of December 31, 2021, Desert Company reports that the balance of its Notes Payable account consists of the following: A $32,824 note due on April 30, 2022. • A $57,428 note due on September 1, 2025. A $67,991 note due in three equal annual installments. The next installment is due February 15, 2022. What does Desert Company report as current liabilities on its December 31st, 2021, balance sheet? As of December 31, 2021, Desert Company reports that the balance of its Notes Payable account consists of the following: A $32,824 note due on April 30, 2022. • A $57,428 note due on September 1, 2025. A $67,991 note due in three equal annual installments. The next installment is due February 15, 2022. What does Desert Company report as current liabilities on its December 31st, 2021, balance sheet?
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Answer rating: 100% (QA)
The 32824 note due on April 30 2022 is within one year from December 31 2021 so it should be conside... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
Posted Date:
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