calendar quarter of $20y6.$ The federal tax rate is $40\%.$ A quarterty tax payment will be made on Aprit $12,20Yo.$

Prepare the "Current liablities" section of the balance sheet for Bon Nebo Co$.$ on March $31,20$ r$6.$

Bon Nebo Co$.$

Current Liabilities Section of Balance Sheet

March $31,20$Y$6$

Current liabilities:

Advances on magazine subscriptions $

Federal income taxes payable.

Total current llabilities