(Answered) Question - discuss how to prepare the liabilities section

Accounting

Question - Discuss how to prepare the liabilities section of O'Brian's Balance Sheet with the following information

O'Brian's balance sheet using the following information:

• Accounts payable $157,000

• Notes payable (due May 1, 2018) $20,000

• Bonds payable (due 2021) $900,000

• Unearned rent revenue $240,000

• Discount on bonds payable $41,000

• FICA taxes payable $7,800

• Interest payable $40,000

• Notes payable (due 2019) $80,000

• Income taxes payable $3,500

• Sales taxes payable $1,700

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