Bon Nebo Co. sold 25,000 annual subscriptions of Magazine 2018 for $85 during December 2018. These new subscribers will receive monthly issues, beginning in January 2019. In addition, the business had taxable income of $840,000 during the first calendar quarter of 2019. The federal tax rate is 40%. A quarterly tax payment will be made on April 12, 2019. Prepare the Current Liabilities section of the balance sheet for Bon Nebo Co. on March 31, 20Y9.
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