Grant Co. had the following liabilities at December 31, the end of its fiscal year: The note payable is an 8-year note with $30,000 due in the next year. Prepare the liabilities section of the balance sheet for the company.

Question

Grant Co. had the following liabilities at December 31, the end of its fiscal year:  The note payable is an 8-year note with $30,000 due in the next year. Prepare the liabilities section of the balance sheet for the company.

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The Answer of Grant Co. had the following liabilities at December 31, the end of its fiscal year:  The note payable is an 8-year note with $30,000 due in the next year. Prepare the liabilities section of the balance sheet for the company.

Grant Co Had the Following Liabilities at December 31, the End