The reporting date is June 30, 2020. Classify the accounts as to what they belong. Current or noncurrent. 1.Loans Payable ( Due Dec 31,2020) 2 Loans Payable ( Due May 5,2022) 3.Notes Receivable ( due Oct. 8 ,2020) 4.Notes Receivable ( due Dec. 10, 2021)

The reporting date is June 30, 2020. Classify the accounts as to what they belong. Current or noncurrent. 1.Loans Payable ( Due Dec 31,2020) 2 Loans Payable ( Due May 5,2022) 3.Notes Receivable ( due Oct. 8 ,2020) 4.Notes Receivable ( due Dec. 10, 2021)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The reporting date is June 30, 2020. Classify the accounts as to what they belong. Current or noncurrent.

1.Loans Payable ( Due Dec 31,2020)

2 Loans Payable ( Due May 5,2022)

3.Notes Receivable ( due Oct. 8 ,2020)

4.Notes Receivable ( due Dec. 10, 2021)

Please answer it completely. Thanks.

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