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The Balances of Select Accounts of McMurray Company as of December

Question 44

Multiple Choice

The balances of select accounts of McMurray Company as of December 31,2018 are given below:  Notes Payable-short-term $1,500 Salaries Payable 3,000 Notes Payable-long-term 23,000 Accounts Payable 3,000 Unearned Revenue 3,000 Interest Payable 2,400\begin{array} { | l | r | } \hline \text { Notes Payable-short-term } & \$ 1,500 \\\hline \text { Salaries Payable } & 3,000 \\\hline \text { Notes Payable-long-term } & 23,000 \\\hline \text { Accounts Payable } & 3,000 \\\hline \text { Unearned Revenue } & 3,000 \\\hline \text { Interest Payable } & 2,400 \\\hline\end{array} The Unearned Revenue is the amount of cash received for services to be rendered in January 2019.Interest Payable will be paid on February 5,2019.What are the total long-term liabilities shown on the balance sheet at December 31,2018?


A) $1,500
B) $3,000
C) $6,000
D) $23,000

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