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On January 1, 2020, Sandhill Co., a calendar-year company, issued $1840000 of notes payable, of which $460000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2020, is:
a. Long-term debt, $1840000.
b. Current liabilities, $460000; Long-term Debt, $920000.
c. Current liabilities, $460000; Long-term Debt, $1380000.
d. Current liabilities, $1840000.
Answers: 2
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On January 1, 2020, Sandhill Co., a calendar-year company, issued $1840000 of notes payable, of whic...
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