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Included in Zollar Corporation's liability account balances at December 31,2014,were the following:
Zollar's December 31,2014,financial statements were issued on March 31,2015.On January 15,2015,the entire $400,000 balance of the 16 percent note was refinanced by issuance of a long-term obligation payable in a lump sum.In addition,on March 10,2015,Zollar consummated a noncancelable agreement with the lender to refinance the 14 percent,$250,000 note on a long-term basis,on readily determinable terms that have not yet been implemented.Both parties are financially capable of honoring the agreement,and there have been no violations of the agreement's provisions.On the December 31,2014,balance sheet,the amount of the notes payable that Zollar should classify as noncurrent obligations is
Müller-Lyer Illusion
A visual illusion where lines of the same length appear to be different lengths due to arrow-like tails.
Ponzo Illusion
A visual illusion where two horizontal lines of identical length appear different in length because of converging parallel lines in the background.
Necker Effect
An optical illusion related to the perception of a two-dimensional drawing of a cube, which can spontaneously appear to switch orientation.
McCullough Effect
A phenomenon where prolonged exposure to colored gratings causes the visual system to adapt and see complementary colors in grayscale patterns.
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