Accounting HM 1.docx - $2,000 of the long-term note payable...

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* $2,000 of the long-term note payable is due during the next year. Answer: FOCUS PACKAGE DELIVERY Classified Balance Sheet December 31 Assets Current assets Cash $ 18,200 Accounts receivable 34,200 Supplies 2,100 Total current assets $54,500 Long-term investments 25,000 Plant assets Delivery equipment $ 45,000 Less: accumulated depreciation 11,080 33,920 Intangible assets 16,000 Total $129,420 Liabilities Current liabilities Current portion of long-term debt $ 2,000 Accounts payable 16,200
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