2 Questions:

Suarez Company and Twin Oak Corp

Presented below are long-term liability items for Suarez Company at December 31, 2014. Prepare the long-term liabilities section of the balance sheet for Suarez Company. Bonds payable, due 2016 $500,000 Mortgage liability due in one year $45,000 560,000 total Notes payable, due 2019 80,000 Discount on bonds payable 42,000