1. Compute the amount to he classified as current liabilities on December 31st

2. Compute the amount to he classified as total liabilities on December 31st

The following are selected account balance of Jackson Company (in random order) as of Dec. 31 2020 The following are selected account balances of Jackson Company (in random order) as of Dec. 31, 2020 Sales Returns Cash Accounts Receivable Sales $2,000 3,000 15,000 $3,000 18,000 19,000 82,000 Sales Taxes Payable Merchandise Inventory Accounts Payable Accumulated Depreciation- Building Paid-In-Capital in Excess of Par- Com. Stock Retained Earnings, Jan. I Bonds Payable (due in 5 years) 12.000 Cost of Goods Sold 24,000 10,000 15,000 32,000 Building 94,000 Depreciation 3,000 Expense Gains in disposal of 4,000 assets 4,000 Prepaid Rent Interest Expense Land 2,000 2,000 18,000 FICA Taxes Payable Accumulated other comprehensive income Discounts on Bonds Payable Common Stock (par 510) Allowance for Bad Debts Salaries Expense Rent Expense Bad Debts Expense Paid-In-Capital in Excess of Par Prel. Stock 2,000 Debit 2.000 50,000 1.000 Credit 20,000 6,000 2.000 Patent 5.000 Salaries Payable Treasury Stock Preferred Stock 3,000 8,000 15.000 Dividends 5.000 8,000