Question

On December 31, 2020, Riverbed Company had $1,101,000 of short-term debt in the form of notes payable due February 2, 2021. On January 21, 2021, the company issued 22,800 shares of its common stock for $42 per share, receiving $957,600 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the stock sale, supplemented by an additional $143,400 cash, are used to liquidate the $1,101,000 debt. The December 31, 2020, balance sheet is issued on February 23, 2021.

Show how the $1,101,000 of short-term debt should be presented on the December 31, 2020, balance sheet. (Enter account name only and do not provide descriptive information.)

Riverbed Company Partial Balance Sheet                                                           December 31, 2020For the Year Ended December 31, 2020For the Month Ended December 31, 2020
select a balance sheet section                                                          Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term DebtProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term DebtTotal Property, Plant and EquipmentTotal Stockholders' Equity:
enter a balance sheet item			$enter a dollar amount

Answer 1

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