Question: When preparing a report form of a Balance Sheet for a merchandising business, assume that the following accounts had the following balances on the Adjusted

When preparing a report form of a Balance Sheet for a merchandising business, assume that the following accounts had the following balances on the Adjusted Trial Balance: Accounts Payable, $25,000; Wages Payable, $2,000; Mortgage Notes Payable (due in 10 years), $123,000 (current portion of the note, $3,000). What would be the Total Current Liabilities for this Balance Sheet?

Answer: $30,000

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