Current Liabilities By the Month Inc. sold 16,000 annual magazine subscriptions for $53 during December 2014. These new subscribers will receive monthly issues, beginning in January 2015. By the Month Inc. issued a $150,080, 180-day, 5% note payable on December 1, 2014. On March 31, 2015, By the Month Inc. had accounts payable of $29,800 and accrued wages payable of $6,200. Prepare the Current Liabilities section of the balance sheet for By the Month Inc. on March 31, 2015. Do not round intermediate calculations and round your final answers to the nearest dollar. (Assume 360 days in a year.) By the Month Inc. Current Liabilities Section of the Balance Sheet March 31, 2015 Current liabilities: Federal income taxes payable Total current liabilities