Following is a list of account balances at the end of the year: Warranty Liability $1,500 Notes Payable (due in 4 annual installments) 8,000 Retained Earnings 20,000 Interest Payable 300 Accounts Payable 13,000 Depreciation Expense 3,000 Unearned Revenue 5,000 What is the correct amount of current liabilities to be reported on the balance sheet? A. $17,800 B. $21,800 C. $27,800 D. $24,800

Following is a list of account balances at the end of the year: Warranty Liability $1,500 Notes Payable (due in 4 annual installments) 8,000 Retained Earnings 20,000 Interest Payable 300 Accounts Payable 13,000 Depreciation Expense 3,000 Unearned Revenue 5,000 What is the correct amount of current liabilities to be reported on the balance sheet? A. $17,800 B. $21,800 C. $27,800 D. $24,800

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...

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