At December 31, 2018, Filbert Corporation’s adjusted trial balance shows the following balances:

Filbert Corporation provides multi-year warranties with its products. Half of the Accrued Warranty Liability relates to warranty liabilities that will be paid in 2019, while the other half relates to warranty liabilities to be paid in 2020. The Unearned Service Revenue pertains to a service contract that will be performed during 2019. $100,000 of the 8% bonds payable due December 31, 2023, is due on December 31, 2019.

Requirement

1. Prepare the current liability section of Filbert Corporation’s balance sheet at December 31, 2018.

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Accrued Warranty Payable 4% Notes Payable, due April 30, 2019 $ 58,000 150,000 48,000 225,000 27,000 279,000 29,000 500,000 75,000 164,000 84,000 Unearned Service Revenue Accounts Payable Employee Income Tax Payable Accounts Receivable Interest Payable 8% Bonds Payable, due December 31, 2023 Accumulated Depreciation Treasury Stock Salaries Payable 5% Notes Payable, due December 31, 2019 Sales Tax Payable FICA Tax Payable 200,000 67,000 7,000