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The Creative Electronics Company shows the following selected adjusted account balances as at December 31, 2020: Accounts Payable $ 109,000 Salaries Payable 150,000 Accumulated Depreciation,
The Creative Electronics Company shows the following selected adjusted account balances as at December 31, 2020:
Accounts Payable $ 109,000 Salaries Payable 150,000 Accumulated Depreciation, Equipment 37,000 Estimated Warranty Liability 32,000 Mortgage Payable 289,000 Notes Payable, 6 months 35,000 Required: Prepare the current liability section of Creative's balance sheet. $49,000 in principal is due during 2021 regarding the mortgage payable.
The Creative Electronics Company shows the following selected adjusted account balances as at December 31, 2020:
| Accounts Payable | $ | 109,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Salaries Payable | 150,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Depreciation, Equipment | 37,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Estimated Warranty Liability | 32,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage Payable | 289,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Notes Payable, 6 months | 35,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Required: | Prepare the current liability section of Creative's balance sheet. $49,000 in principal is due during 2021 regarding the mortgage payable. | |||||||||||||||||||||||||||||||||||||||||||||||||
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