The adjusted trial balance for Gilligan Corporation at the end of the current year contained
the following accounts.
| Interest Payable | $9,000 |
| Lease Liability | 89,500 |
| Bonds Payable, due 2013 | 180,000 |
| Premium on Bonds Payable | 32,000 |
Instructions
Prepare the long-term liabilities section of the balance sheet.
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