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Marigold Corp. has the following account balances at December 31, 2021: Notes payable ($53,000 due after 12/31/22) $88,000 Unearned service revenue 62,000 Mortgage Payable ($79,000

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Marigold Corp. has the following account balances at December 31, 2021: Notes payable ($53,000 due after 12/31/22) $88,000 Unearned service revenue 62,000 Mortgage Payable ($79,000 due in 2022) 220,000 Salaries payable 28,000 Accounts payable 55,000 In addition, Marigold is involved in a lawsuit. Legal counsel feels it is probable Marigold will pay damages of $22,000 in 2022. Marigold records provisions related to litigations in the account Litigation Liability. Prepare the current liabilities section of Marigold's December 31, 2021, balance sheet. Marigold Corp. (Partial) Balance Sheet December 31, 2021 Current Liabilities Mortgage Payable - Cur 88000 Unearned Revenue 62000 X Mortgage Payable 220000 Notes Payable 55000 Salaries Payable 28000 Litigation Liability 22000 Total Current Liabilities 475000

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