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Author Question: Wolfe, Inc. signed a $45,000 8% 30-year installment note on November 1, 2018. The note requires ... (Read 171 times)

charchew

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on: Feb 18, 2020
Wolfe, Inc. signed a $45,000 8% 30-year installment note on November 1, 2018. The note requires semiannual payments of $750 plus interest on May 1 and November 1 of each year. How will Wolfe classify this loan on its December 31, 2018 Balance Sheet?
◦ Current Portion of Long-term debt, $0; Long-term debt, $45,000
◦ Current Portion of Long-term debt, $45,000; Long-term debt, $0
◦ Current Portion of Long-term debt, $1,500; Long-term debt, $43,500
◦ Current Portion of Long-term debt, $750; Long-term debt, $44,250
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by charchew on Feb 18, 2020

sarahccccc

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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charchew

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Reply 2 on: Feb 18, 2020
Thanks for the timely response, appreciate it

emsimon14

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Reply 3 on: Yesterday
Wow, this really help

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