Wildhorse Corporation is preparing its December 31,2025, balance sheet. The following items may be reported...
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Wildhorse Corporation is preparing its December 31,2025, balance sheet. The following items may be reported as either a current or long-term liability. 1. On December 15,2025 . Wildhorse declared a cash dividend of $3.80 per share to stockholders of record on December 31 . The dividend is payable on January 15, 2026. Wildhorse has issued 1,000,000 shares of common stock, of which 50,000 shares are held in treasury. 2. At December 31 , bonds payable of $119,588,000 are outstanding. The bonds pay 12% interest every September 30 and mature in installments of \$29,897,000 every September 30, beginning September 30, 2026. 3. At December 31,2024 , customer advances were $12,518,000. During 2025 , Wildhorse collected $30,256,000 of customer advances; advances of $26.182.000 should be recognized in income. For each item above, indicate the dollar amounts to be reported as a current liability and as a long-term liability, if amy. For each item above, indicate the dollar amounts to be reported as a current liability and as a long-term liability, if any. eTextbook and Media Attempts: 2 of 5 used
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