Refer to the following list of liability balances at December 31, 2019. Accounts Payable Employee Health...

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Refer to the following list of liability balances at December 31, 2019. Accounts Payable Employee Health Insurance Payable Em

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Answer 1

Answer #1

Solution:

Long term liabilities = Mortgage payable + Bonds payable + long term notes payable

Long term liabilities = $6000 + $61000+$43000= $1,10,000

Option C is correct i.e. $1,10,000

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Answer 2

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