Selected accounts from WooHoo Company's adjusted trial balance for the year ended December 31 follow.
Notes payable (due in 5 years) $5,000
Discount on bonds payable $1,400
Accounts payable 1,500
Wages payable 700
Bonds payable (due in 10 years) 12,000
Interest payable (due in 2 weeks) 350
Machinery 6,500
Sales tax payable 550
Prepare the liabilities section of its classified balance sheet. (Negative amount(s) should be indicated by a minus sign.)
Current Liabilities
Interest Payable Cr $350
Sales Tax Payable Cr $550
Accounts Payable Cr $1,500
Wages Payable Cr $700
Total Current Liabilities Cr $3,100
Long-Term Liabilities
Bonds Payable Dr $12,000
Discount on Bonds Payable Dr (1,400)
Notes Payable Cr $5,000
Total Long-Term Liabilities Cr $18,400
Total Liabilities Cr $21,500
<h3 /><h3>What is trial balance?</h3>
A trial balance is a list of the general ledger accounts found in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance.
Therefore, the correct answer is as given above
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