If a cut flower grower has a $500, 000.00 mortgage on her land and buildings, and she owes Farm Credit Service $60, 000.00 for this years mortgage payment, what amount should be entered on the current liability line of the financial statement?

FUNDAMENTALS OF HORTICULTURE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

If a cut flower grower has a $500, 000.00 mortgage on her land and buildings, and she owes Farm Credit Service $60, 000.00 for this year’s mortgage payment, what amount should be entered on the current liability line of the financial statement?

A	$60, 000
B	$440, 000
C	$500, 000
D	$560, 000

Explanation:

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HORTICULTURE SCIENCE

FUNDAMENTALS OF HORTICULTURE