Question : Learning Objective 7-5 1) On November 1, 2011, The Mane Event, : 1253338
Learning Objective 7-5 1) On November 1, 2011, The Mane Event, Inc. borrowed $40,000 from a local bank for 24 months at 11% annual interest. Both principal and interest are due when the note matures. Which statement below is TRUE? A) The note is a current-term liability on the balance sheet at Dec. 31, 2011. B) The note is a long-term liability on […]