At December 31,2018,Micro Instruments Owes $47,000 on Accounts Payable

Essay

At December 31,2018,Micro Instruments owes $47,000 on Accounts Payable.The balance of Salaries Payable is $14,000 and the balance of Income Tax Payable is $8,000.Micro also has $250,000 of Bonds Payable that were issued at face value.These bonds require payment of a $25,000 installment next year and payment of the remainder in later years.The bonds payable require an annual interest payment of $7,500.Micro still owes this for the current year.
Requirement:
Report Micro Instruments' liabilities on its classified balance sheet on December 31,2018.