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Glover Corporation's Trial Balance for December 31, the End of Its

Question 21

Multiple Choice

Glover Corporation's trial balance for December 31, the end of its fiscal year, included the following accounts:  Accounts Payable $40,000 Dividends Payable 22,000 Bond Payable, maturing in 9 years 36,000 Salaries Payable 9,000 Note Payable, due in 1 year 30,000 Note payable, due in 5 years 60,000\begin{array} { | l | r | } \hline \text { Accounts Payable } & \$ 40,000 \\\hline \text { Dividends Payable } & 22,000 \\\hline \text { Bond Payable, maturing in 9 years } & 36,000 \\\hline \text { Salaries Payable } & 9,000 \\\hline \text { Note Payable, due in 1 year } & 30,000 \\\hline \text { Note payable, due in 5 years } & 60,000 \\\hline\end{array}
The amount that should be classified as current liabilities on Glover's December 31 balance sheet is ________.


A) $71,000
B) $79,000
C) $101,000
D) $161,000

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