Chapter 14, Problem S14.11SE

Preparing the liabilities section of the balance sheet

Master Suites Hotels includes the following selected accounts in its general ledger at December 31, 2016:

Notes Payable (long-term) Bonds	$ 250,000	Accounts Payable	$ 41,000
Bonds Payable (due 2022)	450,000	Discount on Bonds Payable	13,500
Interest Payable (due next year)	1,700	Salaries Payable	3,100
Estimated Warranty Payable	1,500	Sales Tax Payable	700

Prepare the liabilities section of Master Suites’s balance sheet at December 31, 2016.