Homework answers / question archive / Kingery Sales Company has the following selected accounts after posting adjusting entries: Accounts Payable       ?  42,000 Notes Payable, 3-month         50,000 Accumulated Depreciation—Equipment        14,000 Notes Payable, 5-year, 6%     80,000 Salary Expense          4,000 Interest Payable          3,000 Mortgage Payable      120,000 Sales Tax Payable      38,000   Instructions Prepare the current liability section of Kingery Sales Company's statement of financial position, assuming ?20,000 of the mortgage is payable next year

Kingery Sales Company has the following selected accounts after posting adjusting entries: Accounts Payable       ?  42,000 Notes Payable, 3-month         50,000 Accumulated Depreciation—Equipment        14,000 Notes Payable, 5-year, 6%     80,000 Salary Expense          4,000 Interest Payable          3,000 Mortgage Payable      120,000 Sales Tax Payable      38,000   Instructions Prepare the current liability section of Kingery Sales Company's statement of financial position, assuming ?20,000 of the mortgage is payable next year

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Kingery Sales Company has the following selected accounts after posting adjusting entries:

Accounts Payable       ?  42,000

Notes Payable, 3-month         50,000

Accumulated Depreciation—Equipment        14,000

Notes Payable, 5-year, 6%     80,000

Salary Expense          4,000

Interest Payable          3,000

Mortgage Payable      120,000

Sales Tax Payable      38,000

Instructions

Prepare the current liability section of Kingery Sales Company's statement of financial position, assuming ?20,000 of the mortgage is payable next year.