Abraham Wreah LP9.2 assignment - Abraham Wreah National American University LP 9.2 Assignment Ethical Issue 11.1 Company has a mortgage loan payable and

Abraham Wreah LP9.2 assignment - Abraham Wreah National...

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Abraham Wreah National American University LP 9.2 Assignment: Ethical Issue 11.1 2/21/16 Company has a mortgage loan payable and is required to make monthly payments of $3,000 per month. Each of the monthly payments includes a $2,850 principal payment plus approximately $1,50 of interest. This means that during the next 12 months, the company will be required to repay $34,200 ($2,850 x 12 months) of principal. The necessary principal payments due within one year of the balance sheet date must be reported as a current liability. The remaining principal of $252,800 ($287,000 minus $34,200) will be reported as a long-term liability, because it is not due within one year of the balance sheet date. It can find the amount of

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