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Prepare the current liability section of kingery sales

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Reference no: EM13599456

Kingery sales company has the following selected accounts after posting adjusting entries:

  • accounts payable $62,000
  • Notes Payable,3month 50,000
  • Accumulated depreciation-equipment 14,000
  • Notes Payable, 5 years, 6% 80,000
  • Payroll tax expense 4,000
  • Interest Payable 3,000
  • Mortgage payable 120,000
  • Sales tax Payable 38,000

Prepare the current liability section of Kingery Sales Company's balance sheet, assuming $20,000 of the mortgage is payable next year.

Reference no: EM13599456

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