On the company's 20X0 year-end statement of ﬁnancial position, the liability related to this note should be reported as which of the following?
A) A $12,480 long-term liability.
B) A $12,480 current liability.
C) A $12,000 long-term liability.
D) A $12,000 current liability.

Question

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The Answer of On the company's 20X0 year-end statement of ﬁnancial position, the liability related to this note should be reported as which of the following?
A) A $12,480 long-term liability.
B) A $12,480 current liability.
C) A $12,000 long-term liability.
D) A $12,000 current liability.

On the Company's 20X0 Year-End Statement of ﬁNancial Position, the Liability