Question: At December 3 1 , 2 0 2 3 Birch has a total mortgage payable of $ 4 0 , 0 0 0 . $

At December 31,2023 Birch has a total mortgage payable of $40,000. $3,000 of that amount must be paid in 2024. Long-term liabilities at December 31,2023 will include a mortgage payable balance of $40,000 on a classified balance sheet.
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