The following is a partial list of account balances for Joke, Inc. as of December 31, 2020

Accounts payable	$5,000
Accounts receivable	6,000
Bonds payable (all due in 10 years)	40,000
Note payable (10% of the note is due within one year; balance due in 3 years)	10,000
Note payable (due in six months)	2,000
Salaries payable	800
Sales revenue	49,000
Income taxes payable	8,000
Deferred revenue	800

Prepare the liabilities section of Joke Inc.'s classified balance sheet for December 31, 2020.

Answer:

Joke, Inc. Partial Balance Sheet December 31, 2020
LIABILITIES
Current Liabilities:
Note payable	$ HERE
Accounts payable	5,000
Note payable (current portion)	HERE
Salaries payable	HERE
Income taxes payable	HERE
Deferred revenue	HERE
Total Current Liabilities		$ HERE
Long-term Liabilities:	HERE
Bonds payable	HERE
Note payable	HERE
Total Long-term Liabilities		HERE
Total Liabilities		$ HERE