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Company n has a 5-year note payable that will mature on

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Company N has a 5-year note payable that will mature on March 17, 2012. Company N has an agreement with a local bank to refinance the liability by issuing a new note payable. On its December 31, 2011 balance sheet, N should. report the note payable as a current liability.report the note payable as a long-term liability. -not report the note payable on the balance sheet because it is going to be refinanced.ransfer the amount of the note payable to stockholders' equity.

Reference no: EM13483198

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