Multiple Choice
A company has $5,000,000 in long-term debt outstanding.It expects to repay the loan evenly over the next four years.Which of the following represents how it will be shown on the year-end statement of financial position?
A) Accounts Payable: $1,250,000,Long-Term Debt: $3,750,000
B) Current Portion of Long-Term Debt: $1,250,000,Long-Term Debt: $3,750,000
C) Current Portion of Long-Term Debt: $2,500,000,Long-Term Debt: $2,500,000
D) Long-Term Debt: $5,000,000
Correct Answer:
Verified
Correct Answer:
Verified
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