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D accounts payable of 60000 for each obligation indicate

Buffaloe Company has the following obligations at December 31:

(a) A note payable for $100,000 due in 2 years,

(b) A 10-year mortgage payable of $300,000 payable in ten $30,000 annual payments,

(d) Accounts payable of $60,000. For each obligation, indicate whether it should be classified as a current liability. (Assume an operating cycle of less than one year.)

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Accounting Basics: D accounts payable of 60000 for each obligation indicate

Reference No:- TGS01513314

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