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Question
on january 1, 2012, ermler company, a calendar-year company, issued $800,000 of notes payable, of which $200,000 is due on january 1 for each of the next four years. the proper balance sheet presentation on december 31, 2012, is
a.current liabilities, $800,000
b.long-term debt , $800,000
c.current liabilities, $400,000; long-term debt, $400,000
d.current liabilities, $200,000; long-term debt, $600,000
Answer
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