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What circumstances might five-year notes payable classified

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Reference no: EM132641949

Explain the following statements:

Question a) Under what circumstances might a 5-year notes payable be classified as a current liability?

Question b) Under what circumstances might a 5-year notes payable maturing 30 days after the balance  sheet date be classified as a long-term liability?

Reference no: EM132641949

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