Multiple Choice
On December 31,2019,Sandy Company has a Note Receivable of $9,000.The note will be collected in installments.$1,800 is due on December 31,2020 and $1,800 is due every year after December 31,2020.The classification of the note on Sandy Company's balance sheet at December 31,2019 is:
A) all $9,000 is a current asset.
B) all $9,000 is a long term asset.
C) $1,800 is a current asset and $7,200 is a long-term asset.
D) $7,200 is a current asset and $1,800 is a long-term asset.
Correct Answer:
Verified
Correct Answer:
Verified
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