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Question
on january 1, 2011, michelin company, a calendar-year company, is issued €6,000,000 of mortgage notes payable, of which €2,000,000 is due on january 1 for each of the next three years. the proper statement of financial position presentation on december 31, 2011, is
a.current liabilities, €6,000,000
b.long-term debt, €6,000,000
c.current liabilities, €3,000,000; long-term debt, €3,000,000
d.current liabilities, €2,000,000; long-term debt, €4,000,000
Answer
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