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Question 2 [20 points] Callaho Inc. showed the following selected account balances at January 31, 2014. Use this information to prepare the liabilities section
Question 2 [20 points] Callaho Inc. showed the following selected account balances at January 31, 2014. Use this information to prepare the liabilities section of the Callaho Inc. balance sheet. $43,000 in principal on the mortgage payable is due by January 31, 2015. $19,000 of the note payable that matures in 2020 must be paid by January 31, 2015. Account Balance (select one) CPP Expense CPP Payable Employee Income Taxes Payable Interest Earned Interest Expense. Interest Receivable... 17,000 10,000 50,500 39,500 10,500 55,500 Notes Payable (due April 1, 2020)....... 153,500 Machinery 343,500 Mortgage Payable 167,500 Property Taxes Expense. 26,500 Property Taxes Payable 21,000 Rent Expense. 113,000 Rent Payable 89,500 Unearned Revenue. 34,500 Liabilities Section of Balance Sheet (select one)
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