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What amount of the note payable should company a include

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Question - Moving to another question will save this response. Question 28 3.5 points Save Answer Company A has $18,000,000 of notes payable due April 12, 2022. At December 31, 2021, Company A signed an agreement with Bank B to borrow up to $18,000,000 to refinance the notes on a long-term basis, The agreement specified that borrowings would not exceed 75% of the value of the collateral that Company A provided. At the date of issue of the December 31, 2021, financial statements, the value of Company A's collateral was $20,000,000. What amount of the note payable should Company A include in the current liabilities section of its December 31, 2021, balance sheet?

Reference no: EM133187758

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