At Sarasota Company's year end of September 30,2024, the company has an instalment note payable...

60.1K

Verified Solution

Question

Accounting

At Sarasota Company's year end of September 30,2024, the company has an instalment note payable with a total outstanding balance of $665000 to be repaid evenly each month plus interest over the next four years. How much would Sarasota report for this item on the September 30,2024, balance sheet under non-current liabilities?
$13854
$166250
$498750
$665000
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students