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Business, 18.06.2021 02:10 estebencampos69

Riley Company borrowed $36,000 on April 1, Year 1 from the Titan Bank. The note issued by Riley carried a one year term and a 7% annual interest rate. Riley earned cash revenue of $1,700 in Year 1 and $1,400 in Year 2. Assume no other transactions. The amount of total liabilities that would appear on Riley's December 31 balance sheets for Year 1 and Year 2, respectively, would be:.A) $36,000 and $0. B) $37,890 and $0. C) $37,890 and $38,520. D) $1,890 and $630.

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Riley Company borrowed $36,000 on April 1, Year 1 from the Titan Bank. The note issued by Riley carr...

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