Question: I UL miterested in whether an item is a current or a long- term liability? Exercise 9-3 Current Liabilities Section LO1 Jackie Company had the
I UL miterested in whether an item is a current or a long- term liability? Exercise 9-3 Current Liabilities Section LO1 Jackie Company had the following accounts and balances on December 31, 2016: Income Taxes Payable $61,250 Notes Payable, 10%, due June 2, 2017 $ 1,000 Allowance for Doubtful Accounts 17,800 Accounts Receivable 67,500 Accounts Payable 24,400 Discount on Notes Payable 150 Interest Receivable 5,000 Current Maturities of Long-Term Debt 6.900 Unearned Revenue 4,320 3,010 Interest Payable Wages Payable 6,000 Required I'repare the Current Liabilities section of Jackie Company's balance sheet as of December 31, 2016
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