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Home Q & A Board Other Fields Homework Help Business Accounting
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bravata bravata
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7 years ago
Lionworks Inc. signed a $45,000 8% 30-year installment note on November 1, 2014. The note requires semiannual payments of $750 plus interest on May 1 and November 1 of each year. How will Budget Auto classify this loan on its December 31, 2014 Balance Sheet?
A) Current Portion of Long-term debt, $0; Long-term debt, $45,000
B) Current Portion of Long-term debt, $45,000; Long-term debt, $0
C) Current Portion of Long-term debt, $750; Long-term debt, $44,250
D) Current Portion of Long-term debt, $1,500; Long-term debt, $43,500
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Financial Accounting

Financial Accounting


Edition: 3rd
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largerthanlifelargerthanlife
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7 years ago
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bravata Author
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7 years ago
Good timing, thanks!
kc123
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Yesterday
Brilliant ツ
gma_of_7
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2 hours ago
Helped a lot
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