The adjusted trial balance for Stayner Corporation at the year end of December 31, 2012 contained the following accounts: Bonds payable, 7% $500,000 Bond interest payable 20,000 Discount on bods payable 30,000 Notes payable, 8%, due 2014 80,000 Accounts payable 120,000 1. Prepare the long-term liabilities section of the balance sheet. 2. Indicate the proper balance sheet classification for the accounts listed above that do not belong in the long-term liabilities section.The adjusted trial balance for Stayner Corporation at the year end of December 31, 2012 contained the following accounts:
Bonds payable, 7%                                                     $500,000
Bond interest payable                                                    20,000
Discount on bods payable                                             30,000
Notes payable, 8%, due 2014                                       80,000
Accounts payable                                                         120,000
Prepare the long-term liabilities section of the balance sheet.
Indicate the proper balance sheet classification for the accounts listed above that do not belong in the long-term liabilities section.