Solution-How will this note be reported on the December

How will this note be reported on the December

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Reference no: EM132574047

Question - Muffin Company issued a five-year, interest-bearing note payable for $50,000 on January 1, 2021. Each January the company is required to pay $10,000 on the note. How will this note be reported on the December 31, 2022, balance sheet?

a) Long-term debt, $50,000

b) Long-term debt, $30,000; Long-term debt due within one year, $10,000

c) Long-term debt, $40,000

d) Long-term debt of $40,000; Long-term debt due within one year, $10,000

Reference no: EM132574047

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How will this note be reported on the December

Reference no: EM132574047

Reference no: EM132574047

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