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How much current liabilities must appear

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Question - Uganda Inc. released a note payable to Wells Fargo amounting to $1,800,000 with 9% rate, payable in three equal annual installments. It was on September 1, 2002 when the first interest and principal payment was made.

a. As of December 31, 2002, what is the interest payable recorded?

b. As of December 31, 2003, how much current liabilities must appear on the statement of financial position of Uganda Inc.?

Reference no: EM132952121

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