Question Details

All long-term debt maturing within the next year 


True or false:

1.	A zero-interest-bearing note payable that is issued at a discount will not result in any interest expense being recognized.

	2.	Dividends in arrears on cumulative preferred stock should be recorded as a current liability.

	3.	Magazine subscriptions and airline ticket sales both result in unearned revenues.

	4.	Discount on Notes Payable is a contra account to Notes Payable on the balance sheet.

	5.	All long-term debt maturing within the next year must be classified as a current liability on the balance sheet.





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