oil reserves. timberlands. land improvements. mineral deposits. 8- Multiple Choice Question 98
On January 1, 2013, Donahue Company, a calendar-year company, issued $ 500,000 of notes payable, of which $ 125,000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2013, is
Current Liabilities, $ 125,000; Long-term Debt, $ 375,000. Current Liabilities, $ 375,000; Long-term Debt, $ 125,000. Current Liabilities, $ 500,000. Long-term Debt, $ 500,000. 9- Multiple Choice Question 76
When an interest-bearing note matures, the balance in the Notes Payable account is
less than the total amount repaid by the borrower.
the difference between the maturity value of the note and the face value of the note.
equal to the total amount repaid by the borrower. greater than the total amount repaid by the borrower 10-Multiple Choice Question 125