The following list of accounts is taken from the adjusted trial balance of Goforth Company.
|
Accounts Payable |
$45,000 |
|
Notes Payable (due in 6 months) . |
24,000 |
|
Income Taxes Payable |
18,000 |
|
Unearned Sales Revenue |
27,500 |
|
Notes Payable (due in 2 years) . . |
40,000 |
|
Prepaid Insurance |
6,200 |
|
Accounts Receivable |
53,000 |
|
Current Portion of Mortgage Payable. |
12,300 |
|
Mortgage Payable (due beyond 1 year) |
93,000 |
|
Retained Earnings |
91,400 |
|
Property Taxes Payable |
8,700 |
|
Salaries & Wages Payable |
15,200 |
|
Sales Tax Payable |
3,100 |
Required
Prepare the liabilities section of the company s balance sheet.