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  3. 3. at december 31,2021 , note payable of $300,000

3. At December 31,2021 , note payable of $300,000 for Geronimo Company are outstanding. The...

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Accounting

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3. At December 31,2021 , note payable of $300,000 for Geronimo Company are outstanding. The note payable is due in installments of $50,000 every December 31 , beginning December 2022 . Identify the dollar amount of the note payable to be reported as a long-term liability. a) 250,000 b) 300,000 c) 50,000 d) 350,000 4. Yalta Co, had the following balances at December 31, 2021: Money orders $10,000 Cash in savings account $25,000 Commercial paper, purchased December 1, 2018, maturing January 31, 2022$160,000 Yalta's policy is to treat as cash equivalents all highly liquid investments with a maturity of three months or less when purchased. What amount should Yalta report as cash and cash equivalents in its December 31,2022 , balance sheet? a) 25,000 (b) 35,000 c) 195,000 d) 10,000

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