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Teal Mountain Company has the following selected accounts after posting adjusting entries: Accounts Payable $66,000 Notes Payable, 3-month 100,000 Accumulated Depreciation-Equipment 15,800 Notes Payable,
Teal Mountain Company has the following selected accounts after posting adjusting entries: Accounts Payable $66,000 Notes Payable, 3-month 100,000 Accumulated Depreciation-Equipment 15,800 Notes Payable, 5-year, 8% 81,000 Payroll Taxes Expense 6,000 Interest Payable 4,500 Mortgage Payable 120,000 Sales Taxes Payable 23,900 Prepare the current liability section of Teal Mountain Company's balance sheet, assuming $16,000 of the mortgage is payable next year. (For Notes Payable enter the account name only and do not provide any additional descriptive information.) TEAL MOUNTAIN COMPANY Current Liabilities Accounts Payable 66000 Notes Payable Notes Payable Payroll Tax Expense Interest Payable 100000 81000 6000 4500 Total Liabilities $ 273,500
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