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alex took out a loan on 1st jan 2012 $72000 Payable in 12 equal installments quarterly. the 1st payment was made on 31st Mar 2012 show how the loan would be shown in his statement of financial position as at 31 dec 2012
answer = current liabilities = 24000
non current liabilities = 24000i am confused with the quarterly and why doesnt the entire 48000 go into current liabilities
please help
current liabilities = payable within a year.
24000 will be paid in 2013, and the remainder will be paid in 2014.
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