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On December 31, 2021. Red, Ine had a $2,700,000 note payable outstanding, due July 31,...

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Accounting

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On December 31, 2021. Red, Ine had a $2,700,000 note payable outstanding, due July 31, 2022. Red borrowed the money to finance construction of a 20 new plant. Red planned to refinance the note by suling long term bends. Because Red temporarily had excess cash, it prepaid $620.000 of the note on January 23, 2022. In February 2022, Red completed a $4,200,000 bond offering Red will use the bond offering proceeds to repay the note payable at Its maturity and to pay construction costs during 2022 On March 13, 2022. Red issued its 2021 financial statements. What amount of the note payable should Red include in the current liabilities section of its December 31, 2021, balance sheet? 00:45:15 Multiple Choice 30 5520,000 52.700.000 0 $2.080,000 M Graw Hill

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