Question
At December 31,2018,Cresent Corporation's adjusted trial balance shows the following balances: Accrued Warranty Payable $57,000 77% Notes Payable, due April 30, 20192019 170,000 Unearned Service
At December 31,2018,Cresent Corporation's adjusted trial balance shows the following balances:
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CresentCresent
Corporation provides multi-year warranties with its products. Half of the Accrued Warranty Liability relates to warranty liabilities that will be paid in
20192019,
while the other half relates to warranty liabilities to be paid in
20202020.
The Unearned Service Revenue pertains to a service contract that will be performed during 2019 $108,000 of the 66%bonds payable due December 31,2023,is due on December 31,2019.
1. Prepare the current liability section of CresentCorporation's balance sheet at December 31 comma 2018 December 31, 2018.(If applicable, combine the Notes Payable on one line of the statement.)
Cresent Corporation
Balance Sheet (partial)
December 31, 2018
Account
Amount
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