On September 1, 2021, Southwest Airlines borrows $41 million, of which $10 million is due next year. Show how Southwest Airlines would record the $41 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.)

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2 September, 16:51

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Jaden Chang · Answer 1

Current portion of long-term debt 1,000,000

Notes payable (41-10) 3,100,000