The adjusted trial balance for Montreal Corporation at the end of the current year contained these accounts:

Instructions

(a) Prepare the long-term liabilities section of the balance sheet.

(b) Indicate the proper balance sheet classification for the account(s) listed above that do not belong in the long-term liabilities section.

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Bond Interest Payable Note Payable, due 2005 Bonds Payable, due 2010 Premium on Bonds Payable $ 9,000 59,500 160,000 41,000