Problem
Brewer Company has the following selected accounts after as of December 31, 2019:
Accounts Payable $90,000
Notes Payable, 3-month $65,000
Accumulated Depreciation-Equipment $14,000
Notes Payable, 5-year, 8% $75,000
Wage Expense $6,000
Interest Payable $5,000
Long-term debt $180,000
Utilities Payable $23,000
• Prepare the current liability section of Brewer Company's balance sheet.