Swifty owes $2.2 million that is due on February 28. The company borrows $1670000 on February 25 (5-year note) and uses the proceeds to pay down the $2.2 million note and uses other cash to pay the balance. How much of the $2.2 million note is classified as long-term in the December 31 financial statements?a. $2,000,000.b. $0.c. $1,600,000.d. $400,000.
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Swifty owes $2.2 million that is due on February 28. The company borrows $1670000 on February 25 (5-...
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