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kherson [118]
3 years ago
8

On September 1, 2021, Southwest Airlines borrows $39.3 million, of which $6.6 million is due next year. Show how Southwest Airli

nes would record the $39.3 million debt on its December 31, 2021, balance sheet. (Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.)
Business
1 answer:
Pavlova-9 [17]3 years ago
4 0

Answer:

Balance sheet

Current liability:

Current portion of long term debt = $6,600,000

Long term liability:

Notes payable = ($39,300,000 - $6,600,000)

                        = $32,700,000

Therefore,

Total liabilities = Current liabilities + Long term liabilities

                        = $6,600,000 + $32,700,000

                        = $39,300,000

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