Wolfe, Inc. signed a $51,000 8% 30-year installment note on November 1, 2018. The note...
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Wolfe, Inc. signed a $51,000 8% 30-year installment note on November 1, 2018. The note requires semiannual payments of $850 plus interest on May 1 and November 1 of each year. How will Wolfe classify this loan on its December 31, 2018 Balance Sheet? 0 A. Current Portion of Long-term debt $850; Long-term debt, $50,150 O B. Current Portion of Long-term debt, $1,700, Long - term debt, $49,300 C. Current Portion of Long-term debt, $0, Long-term debt, S51000 O D. Current Portion of Long-term debt $51,000; Long-term debt $0
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