The notes payable account consists of two notes of $$53,000$ each. One note is due on September $30,2024,$ and the other is due on November $30,2025.$

The mortgage payable is a loan payable to the bank in semiannual installments of $$4,400$ each plus interest. The next payment is due on October $31,2024.$ Interest has been properly accrued and is included in accrued expenses.

Eight hundred thousand shares of no par common stock are authorized, of which $260,000$ shares have been issued and are outstanding.

The land account includes $$53,000$ representing the cost of the land on which the company's office building resides. The remaining $$28,000$ is the cost of land that the company is holding for investment purposes