From the following information, create the liabilities side of a balance sheet for ABC Company at December 31, 2XXX At the beginning of the year ABC had $500, 500 in Accounts Payable. During the year they had trade purchases on account of $750,000, and payments on account of $625,000. ABC has estimated their costs for utilities for December as $3,000, but they have not received or recorded the invoice as of the end of the year. As of the end of the year, ABC had $2,500 in customer deposits for work not yet completed. ABC has a $1,000,000 interest only loan (classified by the company as long-term debt). The interest for the year is accrued in December is not due to be paid until January 1. Interest on the note is based on a 5% annual rate. As of the end of the year ABC had $7,500 in wages that employees had earned but had not been paid for. ABC has a bank loan for $500,000. On this note $100,000 will be due within one year. December 1st ABC purchased equipment by securing a short-term loan for $25,000 due in six months. The loan has an annual interest rate of 6%. No payment was made during December. Accounts Payable Accrued Expenses Unearned Revenue Interest Payable Wages Payable Short-term Notes Payable Long-term Notes Payable Total

From the following information, create the liabilities side of a balance sheet for ABC Company at December 31, 2XXX
At the beginning of the year ABC had $500, 500 in Accounts Payable. During the year they had trade purchases on account of $750,000, and payments on account of $625,000.
ABC has estimated their costs for utilities for December as $3,000, but they have not received or recorded the invoice as of the end of the year.
As of the end of the year, ABC had $2,500 in customer deposits for work not yet completed.
ABC has a $1,000,000 interest only loan (classified by the company as long-term debt). The interest for the year is accrued in December is not due to be paid until January 1. Interest on the note is based on a 5% annual rate.
As of the end of the year ABC had $7,500 in wages that employees had earned but had not been paid for.
ABC has a bank loan for $500,000. On this note $100,000 will be due within one year.
December 1st ABC purchased equipment by securing a short-term loan for $25,000 due in six months. The loan has an annual interest rate of 6%. No payment was made during December.
Accounts Payable
Accrued Expenses
Unearned Revenue
Interest Payable
Wages Payable
Short-term Notes Payable
Long-term Notes Payable
Total