On November 1, 2012, EZ Products Borrowed $48,000 on a 5

question 18

Multiple Choice

On November 1, 2012, EZ Products borrowed $48,000 on a 5%, 10-year note with annual installment payments of $4,800 plus interest due on November 1 of each succeeding year. On November 1, the principal amount was initially recorded as Long-term notes payable, and then a second entry was made to reclassify the current portion. Which of the following is the proper reclassification entry?

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Definitions:

Pathogens

Microorganisms or viruses that can cause disease in humans, animals, or plants.

Autoclave

A pressurized device used to sterilize equipment and supplies by subjecting them to high temperature steam for a period of time.

Sterilization

The process of making something free from bacteria or other living microorganisms.

Infested Clothing

Garments that have been overrun or inhabited by pests, such as lice or bedbugs.