Business, 10.09.2021 21:10 thegurl41

On December 31, 2020, Waterway Company had $1,319,000 of short-term debt in the form of notes payable due February 2, 2021. On January 21, 2021, the company issued 27,300 shares of its common stock for $48 per share, receiving $1,310,400 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the stock sale, supplemented by an additional $8,600 cash, are used to liquidate the $1,319,000 debt. The December 31, 2020, balance sheet is issued on February 23, 2021.On December 31, 2020, Waterway Company had $1,319,000 of short-term debt in the form of notes payable due February 2, 2021. On January 21, 2021, the company issued 27,300 shares of its common stock for $48 per share, receiving $1,310,400 proceeds after brokerage fees and other costs of issuance. On February 2, 2021, the proceeds from the stock sale, supplemented by an additional $8,600 cash, are used to liquidate the $1,319,000 debt. The December 31, 2020, balance sheet is issued on February 23, 2021. Required:
Show how the $1,313,000 of short-term debt should be presented on the December 31, 2020, balance sheet.

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On December 31, 2020, Waterway Company had $1,319,000 of short-term debt in the form of notes payabl...

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