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The adjusted trial balance for Sheffield Corp. at the end of the current year, 2021, contained the following accounts. 5-year Bonds Payable 8% $1530000 Interest

image text in transcribed The adjusted trial balance for Sheffield Corp. at the end of the current year, 2021, contained the following accounts. 5-year Bonds Payable 8% $1530000 Interest Payable 54000 Premium on Bonds Payable 153000 Notes Payable (3 mo.) 38000 Notes Payable (5 yr.) 146000 Mortgage Payable ($8000 due currently) 240000 Salaries and Wages Payable 17000 Taxes Payable (due 3/15 of 2022) 20000 The total long-term liabilities reported on the balance sheet are O $1908000. $2061000

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