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Should not the loan of $1mn be reported as current liability - it is due within 12 months and there is no agreement to refinance it.
Under sales contract, if a buyer does not make a perfect tender (i.e the goods and delivery does not conform exactly to the contract without any defects), the buyer can reject them. In the given question, both the loads of truck were as per the requirement of the contract. Is Modern Driveways not liable for both loads?