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The adjusted trial balance for Sunland Corporation at July 31, 2021, the corporation's fiscal year end, contained the following: Accounts payable $90,000 Note payable
The adjusted trial balance for Sunland Corporation at July 31, 2021, the corporation's fiscal year end, contained the following: Accounts payable $90,000 Note payable $131,500 Accounts receivable 105,500 Lease liability 61,000 Bonds payable, due 2025 192,500 Note receivable, due December 2021 33,000 Interest payable 4,500 Unearned revenue 9,500 Of the lease liability amount, $15,250 is due within the next year. Total payments on the note payable in the fiscal year 2022 will b $25,500: $6,500 is for interest and $19,000 for principal repayments.
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