Answer:
What amount should be included in the current liability section of Jenson's December 31, 2016 balance sheet?
C. $61,000
Explanation:
The current Liabilities corresponds to those accounts with a liquidity speed less than one year, which means it's possible to get/paid cash from these accounts before a year period.
In these case the accounts which are included in the current liabilities are
$25,000 Accounts Payable
$20,000 Note Payable
$16,000 Salaries Payable
$61,000 TOTAL CURRENT LIABILITIES
These other accounts due in more than one year because of that these are included in the Non Current Liabilities.
$22,000 Bonds Payable
$40,000 Notes Payable
$62,000 TOTAL NONCURRENT LIABILITIES
