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Business, 07.06.2021 01:00 jdkrisdaimcc11

On January 1, Year 1, Renquist Corp. borrowed $100,000 by signing a 5-year note payable with annual interest of 8%. The terms of the contract require Renquist to repay the principal over 5 years with a payment of $20,000 made at the end of each year. On December 31, Year Renquist made the first payment plus interest On January 1 Year 2. what portion of the note should be classified as noncurrent liabilities? a. $60,000
b. $20,000
c. $80,000
d. $100,000

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On January 1, Year 1, Renquist Corp. borrowed $100,000 by signing a 5-year note payable with annual...

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