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Current Liabilities Zahn Inc. sold 16,000 annual magazine subscriptions or $15 dunng December 20.4. These new subscribers will rece ve month y issues beginning in December 1, 20Y4. On March 31, 20YS, Zahn Inc. had accounts payable of $21,500 and accrued wages payable of $6,100. Prepare the Current Liabilities section of the balance sheet for Zahn Inc, on March 31, 20Y5. (Assume 360 days in a year.) nuar 20YS Za n Inc. sue at 0 0 180-day 5% no e pa able on new2.PNG Photos Zahn Inc. Current Liabilities Section of the Balance Sheet March 31 20YS Accounts paystle ederal income taxes expense Federal incame taxes paysble als Subsoiption revenue recerable Total curr entEabilities
Expert Answer
CURRENT LIABILITIES SECTION OF BALANCE SHEET :
MARCH 31,2015
| CURRENT LIABILITIES | |
| Unearned revenue (16000*15) | 240000 |
| Notes payable | 48000 |
| Interest payable (48000*5%*120/360) | 800 |
| Account payable | 21500 |
| Wages payable | 6100 |
| Total current liabilities | 316400 |
