On December 31, 2016, the Wagner Company had the following liabilities: Trade accounts payable $150,000 11% note payable, maturing in equal installments of $40,000 on December 30 of each year through 2019 120,000 12% note payable, issued October 15, 2016, maturing February 15, 2017 70,000 On December 31, Wagner signed a binding agreement with its bank to refinance the 12% note through February
14, 2019, at a variable interest rate. What is the amount of Wagner's current liabilities on December 31, 2016?
A) $150,000
B) $190,000
C) $230,000
D) $260,000
D
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