Lucky Co. had cash of $65,000, inventory worth $117,000, and a building worth $169,000. The company's debts consisted of accounts payable of $234,000, a note payable of $104,000 (secured by the inventory), liabilities with priority of $26,000, and a bond payable of $195,000 (secured by the building).Prepare a schedule to show the amount of total unsecured liabilities.
What will be an ideal response?
| Unsecured liabilities: | ||
| Excess of partially secured bonds payable over pledged building ($195,000 - $169,000) | $ | 26,000 |
| Accounts payable | 234,000 | |
| Total | $ | 260,000 |
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