Presented here are long-term liability items for Blossom Inc. at December 31, 2022. Bonds payable (due 2026) $605,000 Lease liability 68,000 Notes payable (due 2024) 78,000 Discount on bonds payable 45,375 Prepare the long-term liabilities section of the balance sheet for Blossom Inc. (Enter account name only and do not provide descriptive information.) Blossom Inc. Balance Sheet $ $

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 15MC: Naval Inc. issued $200,000 face value bonds at a discount and received $190,000. At the end of 2018,...
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Presented here are long-term liability items for Blossom Inc. at December 31, 2022.
Bonds payable (due 2026)
$605,000
Lease liability
68,000
Notes payable (due 2024)
78,000
Discount on bonds payable
45,375
Prepare the long-term liabilities section of the balance sheet for Blossom Inc. (Enter account name only and do not provide descriptive information.)
Blossom Inc.
Balance Sheet
$
$
Transcribed Image Text:Presented here are long-term liability items for Blossom Inc. at December 31, 2022. Bonds payable (due 2026) $605,000 Lease liability 68,000 Notes payable (due 2024) 78,000 Discount on bonds payable 45,375 Prepare the long-term liabilities section of the balance sheet for Blossom Inc. (Enter account name only and do not provide descriptive information.) Blossom Inc. Balance Sheet $ $
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