Question: Presented here are liability items for Desmond Inc. at December 31, 2014. Accounts payable $278,675 FICA taxes payable $ 13,845 Notes payable (due May 1,

Presented here are liability items for Desmond Inc. at December 31, 2014.

Accounts payable $278,675 FICA taxes payable $ 13,845

Notes payable (due May 1, 2015) 35,500 Interest payable 71,000

Bonds payable (due 2018) 1,597,500 Notes payable (due 2016) 142,000

Unearned rent revenue 426,000 Income taxes payable 6,213

Discount on bonds payable 72,775 Sales taxes payable 3,018

Prepare the liabilities section of Desmond's balance sheet.

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