Presented here are long-term liability items for Metlock, Inc. at December 31, 2017.

Bonds payable (due 2021) $720,000

Notes payable (due 2019) 85,000

Discount on bonds payable 26,000

Prepare the long-term liabilities section of the balance sheet for Metlock, Inc.

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Business

Kamren Moss

31 January, 17:48

Presented here are long-term liability items for Metlock, Inc. at December 31, 2017.

Bonds payable (due 2021) $720,000

Notes payable (due 2019) 85,000

Discount on bonds payable 26,000

Prepare the long-term liabilities section of the balance sheet for Metlock, Inc.

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Summer Hunt · Answer 1

The preparation of the long-term liabilities section of the balance sheet for Metlock, Inc is shown below:

Metlock, Inc

Long-term liabilities section

December 31, 2017

Long-term liabilities

Bond payable $720,000

Less: Discount on bonds payable - $26,000 $694,000

Notes payable $85,000

Total Long-term liabilities $779,000

Presented here are long-term liability items for Metlock, Inc. at December 31, 2017.Bonds payable (due 2021) $720,000Notes payable (due 2019) 85,000Discount on bonds payable 26,000Prepare the long-term liabilities section of the balance sheet for Metlock, Inc.

Presented here are long-term liability items for Metlock, Inc. at December 31, 2017.

Bonds payable (due 2021) $720,000

Notes payable (due 2019) 85,000

Discount on bonds payable 26,000

Prepare the long-term liabilities section of the balance sheet for Metlock, Inc.