At December 31, 2020, Bingo Industries has $778,500 in bonds payable (due in 2025), $128,000 in notes payable (due in 2028), and a $65,700 discount on bonds payable. Bingo is thinking about leasing equipment. The present value of the lease payments is $172,050. Of that amount, Bingo would pay 30% within the next 12 months, another 30% in the 12 months after that, and the remaining 40% in the 12 months after that. If Bingo proceeds with the lease, its total long-term liabilities will be?

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Answer I To calculate the total longterm liabilities if Bingo Industries p... View the full answer