Current Liabilities Section
Patterson Inc. had the following accounts and balances on December 31, 2016:
|
Income Taxes Payable
|
$62,550
|
|
Notes Payable, 10%, due June 2, 2017
|
$ 1,000
|
|
Allowance for Doubtful Accounts
|
17,800
|
|
Accounts Receivable
|
67,500
|
|
Accounts Payable
|
24,600
|
|
Discount on Notes Payable
|
150
|
|
Interest Receivable
|
5,000
|
|
Current Maturities of Long-Term Debt
|
6,900
|
|
Unearned Revenue
|
4,320
|
|
Interest Payable
|
3,010
|
|
Wages Payable
|
6,000
|
|
|
|
Required:
Prepare the Current Liabilities section of Patterson Inc.'s balance sheet as of December 31, 2016.