Included in Harrison Inc.'s account balances at December 31, 2014, were the following: Harrison's December 31, 2014 financial statements were to be issued on March 31, 2015.On January 15, 2015, the entire $600,000 balance of the 6% note was refinanced by issuance of a long-term note to be repaid in 2015.In addition, on March 10, 2015, Harrison made arrangements to refinance the 4% note on a long-term basis.Under IFRS, on the December 31, 2014 statement of financial position, the amount of the notes payable that Harrison should classify as current liabilities is

Question

Included in Harrison Inc.'s account balances at December 31, 2014, were the following:  Harrison's December 31, 2014 financial statements were to be issued on March 31, 2015.On January 15, 2015, the entire $600,000 balance of the 6% note was refinanced by issuance of a long-term note to be repaid in 2015.In addition, on March 10, 2015, Harrison made arrangements to refinance the 4% note on a long-term basis.Under IFRS, on the December 31, 2014 statement of financial position, the amount of the notes payable that Harrison should classify as current liabilities is

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The Answer of Included in Harrison Inc.'s account balances at December 31, 2014, were the following:  Harrison's December 31, 2014 financial statements were to be issued on March 31, 2015.On January 15, 2015, the entire $600,000 balance of the 6% note was refinanced by issuance of a long-term note to be repaid in 2015.In addition, on March 10, 2015, Harrison made arrangements to refinance the 4% note on a long-term basis.Under IFRS, on the December 31, 2014 statement of financial position, the amount of the notes payable that Harrison should classify as current liabilities is