On December 1,2024, Modern Deing Products bonowed $97,000 on a 0% 10-year note with annual instaliment payments of $9,700 plus enterest due on December 1 of each succeeding year On December 1, the principal amount was recorded as a long-term note payable What amount of the note payable will be shown as cument portion of Long-Term Nole Payable on the balance sheet as of December 31, 20247 (Round your answer to nearest whole number)
On December 1,2024, Modern Deing Products bonowed $97,000 on a 0% 10-year note with annual instaliment payments of $9,700 plus enterest due on December 1 of each succeeding year On December 1, the principal amount was recorded as a long-term note payable What amount of the note payable will be shown as cument portion of Long-Term Nole Payable on the balance sheet as of December 31, 20247 (Round your answer to nearest whole number)
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 7MC: Lime Co. incurs a $4,000 note with equal principal installment payments due for the next eight...
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