COMPLETION STATEMENTS
284. A current liability is a debt that can be expected to be paid within ______________ year or the ______________, whichever is longer.
285. Liabilities are classified on the balance sheet as being _______________ liabilities or ______________ liabilities.
286. Obligations in written form are called ______________ and usually require the borrower to pay interest.
287. With an interest-bearing note, a borrower must pay the ________________ of the note plus _________________ at maturity.
288. Sales taxes collected from customers are a ______________ of the business until they are remitted to the taxing agency.
289. Bonds that mature at a single specified future date are called _______________ bonds, whereas bonds that mature in installments are called ________________ bonds.
290. The terms of a bond issue are set forth in a formal legal document called a bond ________________.
291. Unsecured bonds that are issued against the general credit of the borrower are called ________________ bonds.
292. If bonds were issued at a premium, then the contractual interest rate was _____________ than the market interest rate.
293. Discount on Bonds Payable is ________________ (from)(to) bonds payable on the balance sheet. Premium on Bonds Payable is ________________ (from)(to) bonds payable on the balance sheet.