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Liabilities Worksheet Part Current Liabilities a. Define current liabilities, identify where they are reported, and provide two examples of these liabilities Answer the space below. b. Paisley Electronics sells $16,500 electronics equipment to customers on February 27. The sales tax these sales 6%. journal entry cord the sales and the corresponding sales tax. Enter your answers the shaded boxes below. General Journal Date Account Names Debit Credit of food and wine festival advance ticket June 15. and the revenue earned for each of the festival represents 1/5 of the the shaded General Journal Account Names Debit Credit uneamed revenue General Journal Date Account Names Debit Credit Jun record revenue earned Page 2 Part Notes a. on March 28, by signing 90 -day, 8% note. Prepare the to the issuance of the note and the payment of the note at maturity General Journal Date Account Names Debit Credit Mar General Journal Date Account Names Debit Credit Jun 25 f rote and interest b. On November by signing a 2-year, 5% note. Annual interestis paid on 31 year-end. issuance of the note and the accrued interest on December General Journal Account Names Debit Credit General Journal Date Account Names Debit Dec. accrued interest note Page Part Bonds $4 million of -year, 8 percent bonds on January 1 2013. Interest is and financial statements are prepared on December 31. Winterbank uses the the bonds were Journal Account Names Debit Credit General Journal Date Account Names Credit General Journal Date Account Names Debit Credit Dec. Names Credit Journal Date Account Names Debit Credit Page 4 General Journal Account Names Debit Credit

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