Homework Answers
| Correct option is: d. $15,000,000 long term and $3,000,000 current liability | |||
| Workings: | |||
| Notes payable | = | $ 1,80,00,000 | |
| Less: | 75% of Branch collateral (Long term liability) (75 % X $2000000) | = | $ 1,50,00,000 |
| Reaming balance (Current liability) | = | $ 30,00,000 | |
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