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Gar, Inc.s trial balance reflected the following liability account balances at December 31, year 1: Accounts payable $19,000 Bonds payable due year 2 34,000 Deferred
Gar, Inc.s trial balance reflected the following liability account balances at December 31, year 1: Accounts payable $19,000 Bonds payable due year 2 34,000 Deferred income tax liability 4,000 Discount on bonds payable 2,000 Dividends payable on 2/15/Y2 5,000 Income tax payable 9,000 Notes payable due 1/19/Y3 6,000 The deferred income tax liability is based on temporary differences stemming from different depreciation methods for financial reporting and income taxes. In Gars December 31, year 1 balance sheet, the current liabilities total was
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