Accounts Payable 88,200; Current Portion of Long-Term Debit , Interest payable , Salary Payable, Employee Payroll Taxes Payable , Employer Payroll Taxes Payable , Unearned Rent Revenue 3,900, Long-Term Debt 100,000. Additional date needed to develop the adj entries at Sept 30. a. Long term debt is payable in annual installments of 50,000 with the next installment due Jan 31, 09. On that date Emerson will also pay one years interest at 6.6%. Interest was last paid on jan 31. Make the adj entry to shift the current installment of the long term debt to a current liab. also accrue interest expense at year end. b. Gross salaies for the last payroll of the fiscal year were 4300. Of this amount employee payroll taxes payable were 950. c. Employer payroll taxes payable were 890. On aug 1 the company collected 6 months rent of 3900 in advance. I need 1. insert the unadj. balances 2. Journalize and post sept adj balances. 3. Liabilities section of balance sheet. Current and total
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