Refer to the Following List of Liability Balances at December

question 143

Multiple Choice

Refer to the following list of liability balances at December 31, 2019. $$\begin{array} { | l | r | } \hline \text { Accounts Payable } & \$ 15,000 \\\hline \text { Employee Health Insurance Payable } & 1150 \\\hline \text { Employee Income Tax Payable } & 600 \\\hline \text { Estimated Warranty Payable (Due 2020) } & 1400 \\\hline \text { Long-Term Notes Payable (Due 2022) } & 40,000 \\\hline \text { FICA-OASDI Taxes Payable } & 1060 \\\hline \text { Sales Tax Payable } & 670 \\\hline \text { Mortgage Payable (Due 2023) } & 15,000 \\\hline \text { Bonds Payable (Due 2024) } & 54,000 \\\hline \text { Current Portion of Long-Term Notes Payable } & 10,500 \\\hline\end{array}$$ What is the total amount of long-term liabilities?

• A) $55,000
• B) $109,000
• C) $94,000
• D) $40,000

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