Question: At December 3 1 , 2 0 1 0 , Purest has a $ 1 million note that is due on February 2 8 ,
At December Purest has a $ million note that is due on February Purest borrows $ on February year note uses the proceeds to pay down the $ million note and uses other cash to pay the balance. The financial statements are issued in April, How much of the $ million note is classified as longterm in the December financial statements?
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