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The adjusted trial balance for Sheridan Ltd. at October 31, 2021, contained the following: Accounts payable $51,580 Income tax payable $5,345 94,770 Notes payable 238,570
The adjusted trial balance for Sheridan Ltd. at October 31, 2021, contained the following: Accounts payable $51,580 Income tax payable $5,345 94,770 Notes payable 238,570 Accounts receivable Allowance for doubtful accounts 4,808 Interest expense 55,750 Bonds payable, due 2024 495,900 Lease liability 37,201 Interest payable 16,420 Note receivable, due December 2022 36,200 Income tax expense 12,039 Unearned revenue 10,650 Of the lease liability amount, $27,783 is due within the next year. Total payments on the note payable in the next 12 months will be $20,487, of which $11,534 is for interest. Sheridan reported profit for the year ended October 31, 2021, of $38,930. Total assets are $2,048,948. Prepare the liabilities section of the balance sheet (Enter account name only and do not provide descriptive information.) SHERIDAN LTD. Balance Sheet (Partial) October 31, 2021 Liabilities and Shareholders' Equity $
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