Question: Presented here are long-term liability items for Felkner Inc. at December 31, 2010. Prepare the long-term liabilities section of the balance sheet for Felkner Inc.

Presented here are long-term liability items for Felkner Inc. at December 31, 2010. Prepare the long-term liabilities section of the for Felkner Inc.
Bonds payable, due 2014 .......$700,000
Notes payable, due 2012 .........80,000
Discount on bonds payable ........21,000

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