On December 1, 2016, Fine Dining Products borrowed $84,000 on a 12%, 5-year note with annual installment payments of $16,800 plus interest due on December 1 of each succeeding year
On December 1, the principal amount was recorded as a long-term note payable. What amount of the note payable will be shown as current portion of Long-Term Note Payable on the balance sheet as of December 31, 2016? (Round your answer to nearest whole number.)
A) $16,800
B) $26,880
C) $10,080
D) $33,600
A .Current portion of Long-Term Note Payable = $84,000 / 5 = $16,800.
You might also like to view...
During which stage in the LMX theory are the supervisor’s expectation central?
*a. role-taking b. role reversal c. role routinization d. role rotation
The doctrine of precedent is binding on all courts from county courts to the U.S. Supreme Court.
Answer the following statement true (T) or false (F)
If we want to provide a 95% confidence interval for the mean of a population, the confidence coefficient is _____
a. .485 b. 1.96 c. .95 d. 1.645
Using enterprise marketing management (EMM) tools can help integrate various promotional campaigns such that the right messages are sent to the right people through the right channels
Indicate whether the statement is true or false