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The adjusted trial balance for Dolton Corporation at the end of the current year contained the following accounts: Bonds payable, 10% $400,000 Bond interest payable

The adjusted trial balance for Dolton Corporation at the end of the current year contained the following accounts: Bonds payable, 10% $400,000 Bond interest payable 20,000 Discount on bonds payable 30,000 Notes payable, 9%, due 2010 70,000 Accounts payable 120,000 Instructions (a) Prepare the long-term liabilities section of the balance sheet. (b) Indicate the proper balance sheet classification for the accounts listed above that do not belong in the long-term liabilities section.

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