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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Definitions:

Educational Attainment

The highest level of education an individual has completed.

Population Growth

The increase in the number of individuals in a population, often measured by the rate at which the number of individuals increases in a specific time period.

Catch Up

The process through which countries or businesses lagging behind in technology, productivity, or economic development attempt to close the gap with leaders.

Zika Virus

A mosquito-borne virus that can cause birth defects and other neurological conditions in infants born to infected mothers.