Week 3 Learning Team Collaborative Discussion: Acc II

 How to prepare the liabilities section of O’Brian’s Balance Sheet on the attached spreadsheet. 

Write a 175-word individual response.  Using the information below

• Accounts payable $157,000
• Notes payable (due May 1, 2018) $20,000 
• Bonds payable (due 2021) $900,000
• Unearned rent revenue $240,000
• Discount on bonds payable $41,000
• FICA taxes payable $7,800
• Interest payable $40,000
• Notes payable (due 2019) $80,000
• Income taxes payable $3,500
• Sales taxes payable $1,700