Problem
Nevy Corp. has the following debt outstanding as of 12/31/2017:
|
Loan 1
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Loan payable, due 6/30/2018
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$200,000
|
|
Loan 2
|
Loan payable, due 10/31/2018
|
$50,000
|
|
Loan 3
|
Loan payable, due 12/31/2030
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$65,000
|
Nevy Corp. intends to refinance Loan 1 and has demonstrated the ability to do so in years prior.
What amount should Nevy Corp. report as current liabilities on its 12/31/2017 balance sheet?