Parton owes $3 million that is due on February 28, 2023. The company borrows $2,400,000 on February 25 (on a 5-year note), uses the proceeds to pay down the $3 million note and uses other cash to pay the balance How much of the $3 million note is classified as short- term in the December 31, 2022 financial statements? The financial statements were released on March 2, 2023. 1.$ 600,000 2, $0 3. $3,000,000
Parton owes $3 million that is due on February 28, 2023. The company borrows $2,400,000 on February 25 (on a 5-year note), uses the proceeds to pay down the $3 million note and uses other cash to pay the balance How much of the $3 million note is classified as short- term in the December 31, 2022 financial statements? The financial statements were released on March 2, 2023. 1.$ 600,000 2, $0 3. $3,000,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 3MC: On July 1, 2019, Aldrich Company purchased as an available-for-sale security 200,000 face value, 9%...
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