Bramble owes $2.9 million that is due on february 28. the company borrows $2,340,000 on february 25 (5-year note) and uses the proceeds to pay down the $2.9 million note and uses other cash to pay the balance. how much of the $2.9 million note is classified as long-term in the december 31 financial statements?

It is $2,340,000

Explanation:

Since the old debt of $2.9 million has been discharged using new debt issued of $2,340,000  and some cash, the value of the new debt issued will be recognized as a new liability.

However, the balance that will be recognized as long-term will be the liability that is payable after one year while the element that is payable within a year will be recognized under current liability in the financial statement at the end of the year.

what is data classification and what can it do for my business?

data classification is an approach to identifying, protecting and managing information which has rapidly become best practice. implemented as part of a layered security strategy, it enables an enterprise to defend itself against a variety of threats – from aggressive outsiders to untrained or well-meaning insiders – while unlocking the full potential of its data to drive innovation and productivity.

in this whitepaper we have put together a comprehensive introduction to data classification and the benefits it will have for your business.

answer; because many corporate watch groups will discover and publicize unethical behavior by suppliers, link it to the american company, and harm its reputation;