The adjusted trial balance for Wildhorse Corporation at July 31, 2021, the corporation's fiscal year end, contained the following:Accounts payable$ 104,500Note payable$152,500Accounts receivable122,000Lease liability71,000Bonds payable, due 2025223,500Note receivable, due December 202138,000Interest payable5,500Unearned revenue11,000Of the lease liability amount, $17,750 is due within the next year. Total payments on the note payable in the fiscal year 2022 will be$29,500: $7,500 is for interest and $22,000 for principal repayments.(a)Prepare the non-current liabilities section of the balance sheet as at July 31, 2021. (Enter account name only and do not providedescriptive information.)WILDHORSE CORPORATIONBalance Sheet (Partial)$%24

Noncurrent liabilities include debentures, long-term loans, bonds due, deferred tax obligations,…

trial balance for Wildhorse Corporation at July 31, 2021, the corporation's fiscal year en $ 104,500 Note payable yable ceivable $152,500 122,000 Lease liability 71,000 ple, due 2025 223,500 38,000 Note receivable, due December 2021 able 5,500 Unearned revenue 11,000

trial balance for Wildhorse Corporation at July 31, 2021, the corporation's fiscal year en $ 104,500 Note payable yable ceivable $152,500 122,000 Lease liability 71,000 ple, due 2025 223,500 38,000 Note receivable, due December 2021 able 5,500 Unearned revenue 11,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject : Accounting