At December 31, 2014, Hyasaki Corporation has the following account balances: Show how the above accounts should be presented on the December 31, 2014, balance sheet, including the proper classifications. (Enter account name only and do not provide descriptive information.) Solution Since Interest is the current liability as this is due for the current year we will classify it under current liability. Bonds payable is long term debt so will be classified as long term liabilities less discount on bonds payable. See the below presentation: Hope this helps.Current LiabilitiesInterest Payable $ 103,560Long Term LiabilitiesBonds Payable$ 2,259,000Less: Discount on Bonds Payable $ 111,600$ 2,147,400.