The purpose of this assignment is to help you understand thebalance sheet presentation for the liabilities of a company.Assignment Steps Resources: Financial Accounting: Tools forBusiness Decision Making Prepare the liabilities section ofO’Brian’s balance sheet using the following information:Accounts payable $157,000Notes payable (due May 1, 2018) $20,000Bonds payable (due 2021) $900,000Unearned rent revenue 0,000Discount on bonds payable $41,000FICA taxes payable $7,800Interest payable $40,000Notes payable (due 2019) $80,000Income taxes payable ,500Sales taxes payable 500Sales taxes payable $1,700
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