The long-term liability section

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Reference no: EM131313048

The long-term liability section of Escovedo Company’s Balance Sheet includes the following accounts:

Notes Payable $100,000

Mortgage Payable 250,000

Salaries and Wages Payable 75,000

Accumulated Depreciation 125,000

Total Long-Term Liabilities $550,000

Escovedo Company is an established company and does not experience any financial difficulties or have any cash flow problems. Discuss at least two items that are questionable as long-term liabilities.

Reference no: EM131313048

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