Question: On December 3 1 , 2 0 2 4 , Barkey Inc. has a $ 7 2 0 , 0 0 0 note payable that

On December 31,2024, Barkey Inc. has a $720,000 note payable that matures April 1,2025(full principal amount due on this date). Barkey intends to refinance this note into a 3-year note payable on February 20,2025, and has a lender agreement to support this intent. The agreement plans for equal monthly principal payments beginning March 20,2025. What amount relating to the principal for this note should Barkey report as a current liability on the December 31,2024 financial statements that are issued March 1,2025?
On December 3 1 , 2 0 2 4 , Barkey Inc. has a $ 7

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