On January 1, 2020, Oriole Company , a calendar-year company, issued $ 2120000 of notes payable, of

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On January 1, 2020, Oriole Company, a calendar-year company, issued $2120000 of notes payable, of which $530000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2020, is:

Current liabilities, $530000; Long-term Debt, $1590000.

Current liabilities, $530000; Long-term Debt, $1060000.

Current liabilities, $2120000.

Long-term debt, $2120000.

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Cornerstones of Financial Accounting

ISBN: 978-1337690898

4th edition

Authors: Jay Rich, Jeff Jones

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Posted Date: Feb 09, 2022 08:57 AM

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On January 1, 2020, Oriole Company , a calendar-year company, issued $ 2120000 of notes payable, of

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Cornerstones of Financial Accounting

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