The balances of select accounts of McCarthy,Inc. as of December 31, 2016 are giv

Question

The balances of select accounts of McCarthy,Inc. as of December 31, 2016 are given below: Notes Payable short- term Salaries Payable Notes Payable long term Accounts Payable Unearned Revenue Interest Payable $1,500 6,000 25,000 3,100 2,000 2,200 The Uneamed Revenue is the amount of cash received for services to be rendere d in January 2017. Interest Payable wil be paid on February 5. 2017 What are the total long-term liabilities shown on the balance s heet? OA. $25,000 0 B. $5,100 O C. $1,500 O D. 56000

Explanation / Answer

Total long-term liabilities = Notes payable-Long term = $25000 Option A is correct

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