On December 31, 2021, Concord Company has a five-year note payable of $443000. Of that balance,...

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On December 31, 2021, Concord Company has a five-year note payable of $443000. Of that balance, $88600 will be paid within one year from the balance sheet date. How much of the note payable should Concord Company report as a long term liability when they prepare the December 31, 2021 statement of financial position? On December 31, 2021, Concord Company has a five-year note payable of $443000. Of that balance, $88600 will be paid within one year from the balance sheet date. How much of the note payable should Concord Company report as a long term liability when they prepare the December 31, 2021 statement of financial position?

Answer rating: 100% (QA)

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