What should be included in current notes payable account

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Question - Included on Harding Company's liability account balances at December 31, 2020 were the following:

14% Note payable issued October 1, 2016; maturing September 30,2017.

16% Note payable issued October 1, 2020 payable in six semi-annual installments every April1 and October 1.

Harding's December 31, 2020 financial statements were issued on March 31,2021. On March 10, 2021, Harding consummated a non-cancelable agreement with the lender to refinance the 14% note on a long-term basis, on readily determinable ters that have not yet been implemented.

What should be included in current notes payable account in the statement of financial poison on December 31, 2016?

Reference no: EM132825889

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