On December 31 2014 Hattie Mcdaniel Company Had 1200000 Of

On December 31, 2014, Hattie McDaniel Company had $1,200,000 of short-term debt in the form of notes payable due February 2, 2015. On January 21, 2015, the company issued 25,000 shares of its common stock for $38 per share, receiving $950,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2015, the proceeds from the stock sale, supplemented by an additional $250,000 cash, are used to liquidate the $1,200,000 debt. The December 31, 2014, balance sheet is issued on February 23, 2015.

Show how the $1,200,000 of short-term debt should be presented on the December 31, 2014, balance sheet, including note disclosure.

Place this order or similar order and get an amazing discount. USE Discount code “GET20” for 20% discount