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How much of the bank loan should pelican co report

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Question - On December 31, 2021, Pelican Co. took out an 8 year, $800,000 bank loan. The bank requires Pelican Co. to repay $100,000 principal plus 10% interest each year. How much of the bank loan should Pelican Co. report as a non-current liability on the December 31, 2021 statement of financial position?

Reference no: EM133159740

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