required: prepare the current liability section of Jasper Conpany's 2020 balance sheet

Exercise 10-4 Financial statement presentation-current liabilities L01 CHECK FIGURE: Total current liabilities = $155,700 The following alphabetized list of selected adjusted account balances is from the records of Jasper Company on December 31, 2020: Accounts Payable Accumulated Depreciation-Equipment Estimated Warranty Liability GST Payable Mortgage Payable, $35,000 due Dec 31, 2021 Notes Payable, due April 1, 2021 Notes Payable, due April 1, 2024 PST Payable... Warranty Expense. $ 71.000 46,000 16,500 9,800 370,000 15,800 114,000 7,600 11.200 Required Prepare the current liability section of Jasper Company's 2020 balance sheet (for simplicity, list the accounts from largest to smallest). Analysis Component: Why is it important to classify assets and liabilities in current and non-current categories