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The adjusted trial balance for Cross Corp. at the end of the current year, 2008, contained the following accounts. 5-year Bonds Payable 8% $927.000 Bond
The adjusted trial balance for Cross Corp. at the end of the current year, 2008, contained the following accounts. 5-year Bonds Payable 8% $927.000 Bond Interest Payable 53,000 Premium on Bonds Payable 110,000 Notes Payable (3mo.) 11,000 Notes Payable (5 yr.) 177,000 Mortgage Payable ($15,000 due currently) 166,000 Salaries Payable 14,000 Taxes Payable (due 3/15 of 2009) 26,000 The total long-term liabilities reported on the balance sheet are A. $1,323,000. B. $1,380,000. C. $1 .281 .000. D. $1 .365,000
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