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Prepare the required note disclosure for the long-term debt

Question -

At December 31, 2017, Headland Company has outstanding three long-term debt issues. The first is a $1,680,000 note payable which matures June 30, 2020. The second is a $5,210,000 bond issue which matures September 30, 2021. The third is a $11,130,000 sinking fund debenture with annual sinking fund payments of $2,226,000 in each of the years 2019 through 2023.

Prepare the required note disclosure for the long-term debt at December 31, 2017.

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Accounting Basics: Prepare the required note disclosure for the long-term debt

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Accounting Basics: Prepare the required note disclosure for the long-term debt

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