The adjusted trial balance for Katy Corporation at the end of 2017 contained the following...
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Accounting
The adjusted trial balance for Katy Corporation at the end of 2017 contained the following accounts
: Bonds payable, 10%$700,000
Interest payable20,000
Discount on bonds payable40,000
Loan50,000
Mortgage notes payable, 9%, due 202090,000
Accounts payable120,000
Instructions (a)Prepare the long-term liabilities section of the balance sheet.
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