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Business, 24.04.2022 14:00 martinezkimberly706

Coover has reported the $100,000 note payable as a current liability at December 31, 2014 because it will be paid off in the short-run. However, the audit senior isn’t sure that is the correct way of reporting the note because it wasn’t paid off with a current asset. The audit senior has assigned you the task of researching the proper reporting. Required: Draft a research memo addressing the note payable

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Coover has reported the $100,000 note payable as a current liability at December 31, 2014 because it...

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