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On September 1, 2021, Southwest Airlines borrows $39.4 million, of which $6.8 million is due next year. Show how Southwest Airlines would record the $39.4 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.)


Is there a long term liability?

Respuesta :

Answer:

$32,600,000

Explanation:

The presentation of the liabilities section is presented below:

                                      Balance sheet

Current liability

Current portion of long term debt $6,800,000

Long term liability

notes payable $32,600,000

Total liabilities $39,400,000

By this presentation, there is a long term liability of $32,600,000

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