This paper concentrates on the primary theme of Kingery Sales Company has the following selected accounts in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 79. For more details and full access to the paper, please refer to the site.
Kingery Sales Company has the following selected accounts after posting adjusting entries:Accounts Payable$ 42,000Notes Payable, 3-month50,000Accumulated Depreciation—Equipment14,000Notes Payable, 5-year, 6%80,000Payroll Tax Expense4,000Interest Payable3,000Mortgage Payable120,000Sales Tax Payable38,000InstructionsPrepare the current liability section of Kingery Sales Company’s balance sheet, assuming $20,000 of the mortgage is payable next year.