A Company Has a Note Payable That Is Due on December

question 183

Short Answer

A company has a note payable that is due on December 31, 2013. In its December 31, 2012, balance sheet, this note payable should be classified as a(n)____________________.

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Definitions:

Bonds Payable

Long-term liabilities representing money owed by an entity to bondholders, to be repaid at a specific future date.

Premium on Bonds Payable

The excess of a bond's sale price over its principal amount.

Bonds Payable

A long-term liability account that records the amounts owed by a company to bondholders until the debt’s maturity date.

Installment Note

A debt or loan that is repaid over time with a set number of scheduled payments, typically including both principal and interest.