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22 September, 06:46

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.

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  1. 22 September, 07:12
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    Southwest Airlines

    Partial Balance Sheet December 31, 2021

    Current Liabilities

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

    Long Term Liability

    Notes Payable $32,600.000

    (39,4000,000-6,800,000)

    Total Liabilities $39,400,000
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