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 long term liability when they prepare the December 31,2015 balance sheet?
A) $700,000.
B) $800,000.
C) $900,000.
D) $1,000,000.
E) Nothing.Disclose in a note to the financial statements.
Correct Answer:
Verified
Correct Answer:
Verified
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