After posting the adjusting entries,Bing Corporation has the following account balances (partial listing)at December 31,2019.
List the items and amounts to be included as long-term liabilities for the balance sheet at December 31,2019.The current portion of the note payable due February 1,2024 is $15,000.
Definitions:
Goodness-Of-Fit Test
A statistical test used to determine how well observed sample data fit a distribution from a population with a normal distribution.
Expected Frequency
The number of times an outcome is predicted to occur in an experiment or trial based on probability theory.
Normal Distribution
A distribution of probability that is even around the average, indicating that observations close to the mean are more common than those further away.
Chi-Square Distribution
A statistical distribution used for hypothesis testing that is derived from the sum of squared variables that follow a normal distribution.
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