In 2019, Rouchele Co. borrowed $200,000 on a 5% long-term note payable. In each of the following years, Rouchele Co. will pay $25,000 towards the principal plus accrued interest, starting in 2020. Rouchele Co. has a year-end of December 31. Based on this information, Rouchele Co. will report which of the following on its 2019 balance sheet? O $200,000 as long-term debt. O $225,000 as long-term debt. $200,000 as current portion of long-term debt. $25,000 as long-term debt. $25,000 as current portion of long-term debt.

In 2019, Rouchele Co. borrowed $200,000 on a 5% long-term note payable. In each of the following years, Rouchele Co. will pay $25,000 towards the principal plus accrued interest, starting in 2020. Rouchele Co. has a year-end of December 31. Based on this information, Rouchele Co. will report which of the following on its 2019 balance sheet? O $200,000 as long-term debt. O $225,000 as long-term debt. $200,000 as current portion of long-term debt. $25,000 as long-term debt. $25,000 as current portion of long-term debt.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 1PA: On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10%...

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