Refer to the following list of liability balances at Decembe…

Refer to the following list of liability balances at December 31, 2025.Accounts Payable$16,000​Employee Health Insurance Payable850​Employee Income Tax Payable600​Estimated Warranty Payable (Due 2026)1200​Long-Term Notes Payable (Due 2028)38,000​FICA—OASDI Taxes Payable660​Sales Tax Payable570​Mortgage Payable (Due 2029)16,000​Bonds Payable (Due 2030)57,000​Current Portion of Long-Term Notes Payable3500​What is the total amount of long-term liabilities?

Masterpiece Sales Corporation offers warranties on all their…

Masterpiece Sales Corporation offers warranties on all their electronic goods. Warranty expense is estimated at 4% of sales revenue. In 2025, the company had $614,000 in sales. In the same year, Masterpiece Sales replaced defective goods with goods that had a cost of $16,000. Which of the following is the entry needed to record the replacement of the defective goods?

On March 1, 2024, Barker Services issued a 2% long-term note…

On March 1, 2024, Barker Services issued a 2% long-term notes payable for $16,000. It is payable over a 4-year term in $4000 annual principal payments on March 1 of each year plus interest, beginning March 1, 2025. How will the notes payable be shown on the balance sheet dated December 31, 2024?