Multiple Choice
On December 31, 2015, Peligrino Co. has a long term note payable of $800,000. Of that balance, $100,000 will be paid within one year from the balance sheet date. How much of the note payable should Peligrino Co. report as a non-current liability when theyprepare the December 31, 2015 balance sheet?
A) $800,000.
B) $900,000.
C) $1,000,000.
D) $700,000.
E) Nothing. Disclose in a note to the financial statements.
Correct Answer:
Verified
Correct Answer:
Verified
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