Bramble Corp. issued a $34,000, 10%, 10-year installment note payable on January 1, 2022. Payments...
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Accounting
Bramble Corp. issued a $34,000, 10%, 10-year installment note payable on January 1, 2022. Payments of $5,440 are made each January 1, beginning January 1, 2023. (a) What amounts should be reported under current liabilities related to the note on December 31, 2022? (b) What should be reported under long-term liabilities? BRAMBLE CORP.
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