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Question 2 [20 points) Callaho Inc. showed the following selected account balances at February 28, 2014. Use this information to prepare the liabilities section of

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Question 2 [20 points) Callaho Inc. showed the following selected account balances at February 28, 2014. Use this information to prepare the liabilities section of the Callaho Inc. balance sheet. $19,000 in principal on the mortgage payable is due by February 28, 2015. $56,000 of the bonds payable are due by February 28, 2015. Balance (select one) Liabilities Section of Balance Sheet (select one) Account Bonds Payable Consulting Revenue Earned Employee Income Taxes Payable Estimated Vacation Pay Liability Income Taxes Expense Income Taxes Payable Mortgage Payable Patents Salaries Expense Salaries Payable 127,500 134,000 50,000 14,500 9,300 9,300 112,000 436,000 87,500 85,500 X X X

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