Multiple Choice
On January 1 2017 Mazzeo Company a calendar-year company issued $1600000 of notes payable of which $400000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31 2017 is
A) Current Liabilities $1600000.
B) Long-term Debt $1600000.
C) Current Liabilities $800000; Long-term Debt $800000.
D) Current Liabilities $400000; Long-term Debt $1200000.
Correct Answer:
Verified
Correct Answer:
Verified
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