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The adjusted trial balance for Payne Corporation at the end of the current year contained the following accounts:             Bonds payable, 10%

Accounting

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The adjusted trial balance for Payne Corporation at the end of the current year contained the following accounts:

            Bonds payable, 10%..............................................................          $560,000

            Bond interest payable............................................................              20,000

            Lease liability..........................................................................              60,000

            Mortgage notes payable, 9%, due 2013................................              80,000

            Accounts payable..................................................................            120,000

Instructions

(a)    Prepare the non-current liabilities section of the statement of financial position.

(b)    Indicate the proper statement of financial position classification for the accounts listed above that do not belong in the non-current liabilities section.