What amount should nevy corp report as current liabilities

Assignment Help Accounting Basics

Reference no: EM131928421

Problem

Nevy Corp. has the following debt outstanding as of 12/31/2017:

Loan 1	Loan payable, due 6/30/2018	$200,000
Loan 2	Loan payable, due 10/31/2018	$50,000
Loan 3	Loan payable, due 12/31/2030	$65,000

Nevy Corp. intends to refinance Loan 1 and has demonstrated the ability to do so in years prior.

What amount should Nevy Corp. report as current liabilities on its 12/31/2017 balance sheet?

Reference no: EM131928421

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