On December 31, 2021, Indiglow Company Has a Five-Year Note

question 58

Multiple Choice

On December 31, 2021, Indiglow Company has a five-year note payable of $ 450,000. Of that balance, $ 90,000 will be paid within one year from the balance sheet date. How much of the note payable should Indiglow Company report as a long-term liability when they prepare the December 31, 2021, statement of financial position?

• A) $ 360,000
• B) $ 450,000
• C) $ 90,000
• D) $ 540,000

Learn the importance of adaptability and flexibility in gaining a competitive edge.

Understand the necessity of employee involvement and commitment in successful change initiatives.

Acknowledge the complexities and multifaceted nature of resistance to change within organizations.

Understand the terminology and definitions related to the respiratory system.

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Definitions:

Thicker Paper

Refers to paper stock that is heavier and more durable than standard writing or printing paper, commonly used for high-quality print projects or specialized documents.

Laser Printer Part

Components used in a laser printer, which prints images by transferring toner to paper using laser technology.

Corona Wire

The corona wire is a component in laser printers and photocopiers used to generate a static electric charge to attract toner particles onto the paper.

Fuser

A component in laser printers and copiers that uses heat and pressure to bond toner to paper, producing a printed image or text.