True/False
On August 15, 2016, Sassycat Designs signed a $30,000 8% 15-year installment note which requires annual payments of $2,000 plus interest. Sassycat will classify this loan on the December 31, 2016 Balance Sheet as $2,000 current portion of long-term debt and $30,000 long-term debt.
Correct Answer:
Verified
Correct Answer:
Verified
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