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Given the following account information for Leong Corporation, as of December 31, 2015. All accounts have normal balances. Equipment $ 40,000; Interest Payable 600; Land
Given the following account information for Leong Corporation, as of December 31, 2015. All accounts have normal balances. Equipment $ 40,000; Interest Payable 600; Land 157,320; Inventory 102,000; Bonds Payable 78,000; Notes Payable (due in 6 months) 24,400; Share Capital-Ordinary 60,000; Accumulated Depreciation - Equip. 10,000; Prepaid Advertising 5,000; Supplies 1,860; Rent Payable 6,000; Salaries and Wages Expense 53,040; Salaries and Wages Payable 2,900; Notes Receivables (due in 6 months) 15,000; Calculate the total current liabilities: (show calculations here)
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