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Current abilities Blon Nebo Co. sold 12,000 annual subscriptions of bjorn for $48 during December 20's. These new subscribers will receive monthly issues, beginning in January 2016, Ir addition, the business had taxable income of 5364,000 during the first calendar Quarter of 2016. The federal tax rate is 38%. A quarterly tax payment will be made on April 12, 2016 Prepare the current liabilities section of the balance sheet for Bon Nebo Co. on March 31, 2016. Bon Nebo Co. Current Liabilities Section of Balance Sheet March 31, 2016 Current liabilities: Federal income taxes payable Advances on magazine subscriptions Total current liabilities Check My Work 4 more Check My Works remaining Ned> Entries for notes payable Bennett Enterprises issues a $744,000, 60-day, 9%, note to Spectrum Industries for merchandise inventory Assume a 360-day year. If required, round your answers to the nearest dollar. For a compound transaction, it an amount box does not require an entry, leave it blank a. Journalize Bennett Enterprises entries to record: 1. the issuance of the note. 2. the payment of the note at maturity, 1. 2 b. Journalize Spectrum Industries' entries to record: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity 1. 2 Il III Check My Work 4 more Check My Work uses remaining Check My Work 4more Check My Work remaining Email Instructor Sam and Ex Sumt Assignment for Grading