Reference no: EM132782868
Problem 1: On 1 January 2019 Bradley Ltd, a calendar-year company, issued $200,000 of notes payable of which $50,000 is due on 1 January for each of the next four years. The proper statement of financial position for presentation on 31 December 2019 is:
a. Current liabilities, $200,000
b. Non-current liabilities, $200,000
C. Current liabilities, $50,000; Non-current liabilities, $150,000
d. Current liabilities, $150,000; Non-current liabilities, $50,000
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