Zahn Inc. sold 16,000 annual magazine subscriptions for $15 during December 20Y4. These new… 1 answer below »

 
   

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Zahn Inc. sold 16,000 annual magazine subscriptions for $15 during December 20Y4. These new subscribers will receive monthly issues, beginning in January 20Y5. Zahn Inc. issued a $48,000, 180-day, 5% note payable on December 1, 20Y4. On March 31, 20Y5, Zahn Inc. had accounts payable of $21,500 and accrued wages payable of $6,100. Prepare the Current Liabilities section of the balance sheet for Zahn Inc. on March 31, 20Y5.