A Physical Therapist Forms a Personal Corporation and Borrows $20,000

question 14

Short Answer

A physical therapist forms a personal corporation and borrows $20,000 to open a small treatment center. The bank loan is structured so that it will be repaid in ten years, but no payments are due for the first 18 months. In this fiscal year, the $20,000 be listed as ____________________ of current portion.

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Empathic Responses

Reactions or responses that show an understanding of and sensitivity to another person's feelings or experiences.

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