Paul's Valley Company issued bonds with a $10,000 face value on January 1, 2009. The bonds were issued at face value and carried 5 - year term to maturity. They had a 5% stated rate of interest that was payable in cash on January 1 of each year beginning January 1, 2010. Based on this information alone, the amount of total liabilities appearing on the December 31, 2009 balance sheet would be: