Answer each of the following questions related to various short-term liabilities: Your answer is correct....
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Answer each of the following questions related to various short-term liabilities: Your answer is correct. On September 1, 2020, a company borrowed $102,000 from its bank and signed a nine-month note with 9% interest. The principal and interest on the loan are to be paid when the note matures. What is the total amount related to this loan that should be reported under current liabilities on the company's December 31, 2020, statement of financial position? (Round answers to O decimal places, e.g. 14,674.) 105060 Total amount The balance in a company's long-term mortgage payable account on December 31, 2020, is $162,000. This is to be repaid at the rate of $27,000 per year for the next six years How should this liability be reported on the company's statement of financial position on December 31, 20207
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