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Prepare the current liabilities section of the balance sheet

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Reference no: EM132755563

Bon Nebo Co. sold 14,000 annual subscriptions of Bjorn for $52 during December 20Y5. These new subscribers will receive monthly issues, beginning in January 20Y6. In addition, the business had taxable income of $460,000 during the first calendar quarter of 20Y6. The federal tax rate is 38%. A quarterly tax payment will be made on April 12, 20Y6.

Problem 1: Prepare the "Current liabilities" section of the balance sheet for Bon Nebo Co. on March 31, 20Y6.

Reference no: EM132755563

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