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Rico Incorporated has $2,500,000 of short-term debt it expects to retire with proceeds from the...

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Accounting

Rico Incorporated has $2,500,000 of short-term debt it expects to retire with proceeds from the sale of 75,000 ordinary shares. If the shares are sold for $20 per share subsequent to the statement of financial position date, but before the statement of financial position is issued, what amount of short-term debt could be excluded from current liabilities

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