Question

Select the correct answer.

Kruger Motors Inc took a loan from a bank of $1,000,000 on June 1, 2010. The loan was to be repaid in five years. Kruger's accounting year end is on December 31. Where will this loan amount feature in the company's balance sheet as of December 31, 2014.
A. fixed assets
В. current assets
C. long-term liabilities
D. current liabilities ​

Answer 1

C

Step-by-step explanation:

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