Master Suites Hotels includes the following selected accounts in its
Master Suites Hotels includes the following selected accounts in its general ledger at December 31, 2016:
Notes Payable (long-term) ....... $ 250,000
Bonds Payable (due 2022) ....... 450,000
Interest Payable (due next year) ..... 1,700
Estimated Warranty Payable ....... 1,500
Accounts Payable .......... $ 41,000
Discount on Bonds Payable ....... 13,500
Salaries Payable .......... 3,100
Sales Tax Payable ........... 700
Prepare the liabilities section of Master Suites’s balance sheet at December 31, 2016.
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