Reporting Long-Term Debt

Fridley Manufacturings accounting records reveal the following account balances after adjusting entries are made on December 31, 2024:

Accounts payable	$59,800		Interest payable	$38,700
Bonds payable (9.4%, due in 2031)	800,000		Installment note payable (8%, equal installments due 2025 to 2028)	120,000
Lease liability*	41,500		Notes payable (7.8%, due in 2029)	400,000
Bonds payable (8.7%, due in 2027)	50,000		Premium on notes payable (7.8%, due in 2029)	6,100
Deferred tax liability*	133,400		Note payable, 4% $50,000 face amount, due in 2030 (net of discount)	31,900
Discount on bonds payable (9.4%, due in 2031)	12,600
Income taxes payable	26,900

*Long-term liability

Required:

Prepare the current liabilities and long-term debt portions of Fridleys balance sheet at December 31, 2024. Provide a separate line item for each issue (do not combine separate bonds or notes payable), but some items may need to be split into more than one item.

Fridley Manufacturing Liabilities Section of the Balance Sheet December 31, 2024

Liabilities
Current liabilities:
Accounts payableBonds payableCapital lease liabilityNotes payablePremium on notes payable	$
Bonds payableCapital lease liabilityDiscount on bonds payableInterest payablePremium on notes payable	- Select -
Bonds payableCapital lease liabilityDiscount on bonds payableIncome taxes payableNotes payable	- Select -
Bonds payableCurrent portion of installment noteDiscount on bonds payableNotes payablePremium on notes payable	- Select -
Total current liabilities		$fill in the blank 9
Long-term liabilities:
Bonds payable:
Accounts payableBonds payable (8.7%, due in 2027)Current portion of mortgage noteIncome taxes payableNotes payable (7.8%, due in 2029)		- Select -
Accounts payableBonds payable (9.4%, due in 2031)Current portion of mortgage noteInterest payableNotes payable (7.8%, due in 2029)	$- Select -
Less: Accounts payableLess: Bonds receivableLess: Discount on bonds payable (9.4%, due in 2031)Less: Income taxes payableLess: Interest payable	- Select -
Bonds payable (9.4%, due in 2031), net		fill in the blank 16
Notes payable:
Accounts payableCurrent portion of mortgage noteInterest payableLease liabilityNotes payable (7.8%, due in 2029)	$- Select -
Add: Accounts payableAdd: Current portion of mortgage noteAdd: Interest payableAdd: Lease liabilityAdd: Premium on notes payable (7.8%, due in 2029)	- Select -
Notes payable (7.8%, due in 2029), net		fill in the blank 21
Accounts payableCurrent portion of mortgage noteIncome taxes payableInstallment note payable (8%)Interest payableNotes receivable		- Select -
Accounts payableCurrent portion of mortgage noteIncome taxes payableNote payable (4%, due in 2030)Notes Receivable	$- Select -
Less: Accounts payableLess: Current portion of mortgage noteLess: Discount on note payableLess: Interest payableLess: Premium on note payable	- Select -
Notes payable (4%, due in 2030), net		fill in the blank 28
Other long-term liabilities:
Bonds payable (8.7%, due in 2023)Bonds payable (9.4%, due in 2031)Installment note payable (8%)Lease liabilityPremium on notes payable		- Select -
Bonds payable (8.7%, due in 2023)Bonds payable (9.4%, due in 2031)Deferred tax liabilityInstallment note payable (8%)Premium on notes payable		- Select -
Total liabilities		$fill in the blank 33