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At December 31, MediShare Precision Instruments owes $53,000 on Accounts Payable, Salaries Payable of $10,000, and Income Tax Payable of $6,000. MediShare also has $270,000
At December 31, MediShare Precision Instruments owes $53,000 on Accounts Payable, Salaries Payable of $10,000, and Income Tax Payable of $6,000. MediShare also has $270,000 of Bonds Payable that were issued at face value that require payment of a $20,000 installment next year and the remainder in later years. The bonds payable require an annual interest payment of $3,000, and MediShare still owes this interest for the current year. Report MediShare's liabilities on its classified balance sheet on December 31, 2018. MediShare Precision Instruments Balance Sheet (Partial) December 31, 2018 Liabilities
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