(Learning Objective 5: Reporting liabilities, including capital lease obligations) Trinidad Industries has the following selected accounts at December 31, 20X7:

Bonds payable

7,000

Equipment

44,000

Current portion of bonds payable

10,000

Notes payable, long term

31,000

Interest payable (due March 1, 20X8)

$300,000

Accounts payable

114,000

Discount on bonds payable (all long term)

50,000

Accounts receivable

60,000

Prepare the liabilities section of Trinidad’s balance sheet at December 31, 20X7, to show how Trinidad would report these items.