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The adjusted trial balance for Lifesaver Corp. at the end of the current year, 2007, contained the following accounts. 5-year Bonds Payable 8% $2,000,000 Bond
The adjusted trial balance for Lifesaver Corp. at the end of the current year, 2007, contained the following accounts. 5-year Bonds Payable 8% $2,000,000 Bond Interest Payable 50,000 Premium on Bonds Payable 100,000 Notes Payable (3 mo.) 40,000 Notes Payable (5 yr.) 165,000 Mortgage Payable ($15,000 due currently) 200,000 Salaries Payable 18,000 Taxes Payable (due 3/15 of next yr) 25,000 The total long-term liabilities reported on the balance sheet are O A $2,450,000 B. $1,350,000 OC. $1,450,000 OD $1,365,000
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