How to record the long-term notes payable

Reference no: EM132150969

How to record the long-term notes payable on the balance sheet for the below homework.

A five-year, $100,000, 4% note payable was issued on December 31, 2014. The note requires principal payments of $20,000 plus interest due each year beginning December 31, 2015. On December 31, 2016, immediately after the note payment, the balance sheet would show?

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Reference no: EM132150969

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len2150969

10/25/2018 11:48:08 PM

I need to know how to record the long-term notes payable on the balance sheet for the below homework. Please help A five-year, $100,000, 4% note payable was issued on December 31, 2014. The note requires principal payments of $20,000 plus interest due each year beginning December 31, 2015. On December 31, 2016, immediately after the note payment, the balance sheet would show:---?

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