Conrad,Inc

question 90

Short Answer

Conrad,Inc.has $2,000,000 of notes payable due June 15,2015.At the financial statement date of December 31,2014,Conrad signed an agreement to borrow up to $2,000,000 to refinance the notes payable on a long-term basis.The financing agreement called for borrowings not to exceed 80 percent of the value of the collateral Conrad was providing.At the date of issue of the December 31,2014,financial statements,the value of the collateral was $2,400,000 and was not expected to fall below this amount during 2015.In its December 31,2014,balance sheet,Conrad should classify notes payable as

---

Definitions:

Motivated Reasoning

A cognitive process whereby individuals' desires and emotions influence their perception and decision-making, often leading to biased conclusions.

Social Media

comprises online platforms and technologies that facilitate the sharing of ideas, interests, and information through virtual networks and communities.

Fake News

False or misleading information presented as news, often with the intent of manipulating public opinion or obscuring the truth.

Authenticating Act

An action or behavior that serves to verify or affirm the authenticity of a person, product, or entity.