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At December 31, MediAssist Precision Instruments owes $51,000 on Accounts Payable, Salaries Payable of $16,000,...

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Accounting

At December 31, MediAssist Precision Instruments owes $51,000 on Accounts Payable, Salaries Payable of $16,000, and Income Tax Payable of $14,000. MediAssist also has $280,000 of Bonds Payable that were issued at face value that require payment of a $45,000 installment next year and the remainder in later years. The bonds payable require an annual interest payment of $6,000, and MediAssist still owes this interest for the current year. Report MediAssist's liabilities on its classified balance sheet.
MediAssist Precision Instruments
Balance Sheet (Partial)
December 31
Liabilities
a
image

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