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The adjusted trial balance for Lamar Corp. at the end of the current year, 2018, contained the following accounts. 5-year Bonds Payable 8% $1,500,000 Interest
The adjusted trial balance for Lamar Corp. at the end of the current year, 2018, contained the following accounts.
5-year Bonds Payable 8% $1,500,000
Interest Payable 50,000
Discount on Bonds Payable 100,000
Notes Payable (3 mo.) 40,000
Notes Payable (5 yr.) 145,000
Mortgage Payable ($10,000 due currently) 300,000
Salaries and Wages Payable 18,000
Taxes Payable (due 3/15 of 2019) 25,000
The total long-term liabilities reported on the balance sheet are
a. $1,645,000.
b. $1,835,000.
c. $1,935,000.
d. $2,035,000.
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