Answer
12. (f)
Work Step by Step
An extension in paying amounts owed calls for a company to sign a note which transfers liability from accounts payable to notes payable; this is classified as a current liability.
Intermediate Accounting 14th Edition
by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.
Published by
Wiley
ISBN 10:
0470587237
ISBN 13:
978-0-47058-723-2
Chapter 5 - Balance Sheet and Statement of Cash Flows - Exercises - Page 282: E5-2(12)
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