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Use the following adjusted trial balance to determine the total long-term liabilities to be reported on the December 31, 2021. balance sheet: $2,150,000 84.000 39,000
Use the following adjusted trial balance to determine the total long-term liabilities to be reported on the December 31, 2021. balance sheet: $2,150,000 84.000 39,000 51,000 5-year Bonds Payable 8% (face) (Unamortized) Premium on Bonds Payable Bond Interest Payable (payable every January 1) Notes Payable (3 month) Notes Payable (5 year) Mortgage Payable ($12,000 due currently) Salaries & Wages Payable Taxes Payable (due March 15th of next year) 67.000 195,000 14.000 18.000 $2.412.000 $2.496,000 $2.484.000 $2.400.000 Yanik Corporation issues 6,300, 10-year, 8%, $1.000 bonds dated January 1, 2020, at 97. The journal entry to record the issuance will show a credit to Cash for $6,111,000, debit to Discount on Bonds Payable for $189.000 debit to Cash of $6,300,000 credit to Bonds Payable for $6,111,000
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