The balances of select accounts of McMurray, Inc. as of December 31, 2024 are given below: NotesPayable—short−term$1,000Salaries Payable6,000NotesPayable—long−term20,000Accounts Payable3,200Unearned Revenue1,000Interest Payable2,400 The Unearned Revenue is the amount of cash received for services to be rendered in January 2025. Interest Payable will be paid on February 5, 2025. What are the totallong−termliabilities shown on the balance sheet at December 31, 2024?

Non-current liabilities (long-term liabilities) are liabilities that are due after a year or more.…

Answered: The balances of select accounts of…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter3: Basic Accounting Systems: Accrual Basis

Section: Chapter Questions

Problem 2SEQ: On January 24, 20Y8, Niche Consulting collected $5,700 it had hilled its clients for services...

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The balances of select accounts of McMurray, Inc. as of December 31, 2024 are given below:

Notes Payable—short−term	$1,000
Salaries Payable	6,000
Notes Payable—long−term	20,000
Accounts Payable	3,200
Unearned Revenue	1,000
Interest Payable	2,400

The Unearned Revenue is the amount of cash received for services to be rendered in January 2025. Interest Payable will be paid on February 5, 2025. What are the total

long−term

liabilities shown on the balance sheet at December 31, 2024?

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