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eBook Question Content Area Reporting Long - Term Debt Fridley Manufacturing s accounting records reveal the following account balances after adjusting entries are made on

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Question Content Area
Reporting Long-Term Debt
Fridley Manufacturings accounting records reveal the following account balances after adjusting entries are made on December 31,2024:
Accounts payable $72,200 Interest payable $38,700
Bonds payable (9.4%, due in 2031)800,000 Installment note payable (8%, equal installments due 2025 to 2028)120,000
Lease liability*41,500 Notes payable (7.8%, due in 2029)400,000
Bonds payable (8.7%, due in 2027)50,000 Premium on notes payable (7.8%, due in 2029)6,100
Deferred tax liability*133,400 Note payable, 4% $50,000 face amount, due in 2030(net of discount)31,900
Discount on bonds payable (9.4%, due in 2031)12,600
taxes payable 26,900
*Long-term liability
Required:
Prepare the current liabilities and long-term debt portions of Fridleys balance sheet at December 31,2024. Provide a separate line item for each issue (do not combine separate bonds or notes payable), but some items may need to be split into more than one item.
Fridley Manufacturing
Liabilities Section of the Balance Sheet
December 31,2024
Liabilities
Current liabilities:
Accounts payable
$Accounts payable
72,200
Interest payable
Interest payable
38,700
Income taxes payable
Income taxes payable
26,900
Current portion of installment note
Current portion of installment note
30,000
Total current liabilities $fill in the blank 9
167,800
Long-term liabilities:
Bonds payable:
Bonds payable (8.7%, due in 2027)
Bonds payable (8.7%, due in 2027)
50,000
Bonds payable (9.4%, due in 2031)
$Bonds payable (9.4%, due in 2031)
800,000
- Select -
blank
Bonds payable (9.4%, due in 2031), net blank fill in the blank 16
787,400
Notes payable:
Notes payable (7.8%, due in 2029)
$Notes payable (7.8%, due in 2029)
- Select -
blank
Notes payable (7.8%, due in 2029), net blank fill in the blank 21
406,100
- Select -
$- Select -
- Select -
blank
Notes payable (4%, due in 2030), net blank fill in the blank 28
31,900
Other long-term liabilities:
Lease liability
Lease liability
41,500
Deferred tax liability
Deferred tax liability
133,400
Total liabilities $fill in the blank 33

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