Solution-What the amount that should be reported for total

What the amount that should be reported for total current

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Reference no: EM132715743

The HM Company has the following obligations at December 31, 2020:

Accounts Payable $72,000

Taxes Payable 60,000

Notes Payable issued Nov. 1, 2020

and due October 31, 2021 80,000

Bonds Payable issued Dec. 1, 2016

and due Nov. 30, 2025 (to be paid

by use of a sinking fund) 100,000

Problem 1: The amount that should be reported for total current liabilities on the Dec. 31, 2020, balance sheet is:

Select one:

a. $132,000

b. $312,000

c. $72,000

d. $212,000

e. none of these

Reference no: EM132715743

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What the amount that should be reported for total current

Reference no: EM132715743

Reference no: EM132715743

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