James is unable to pay all of his bills and pay his mortgage payment. His second mortgage lender forecloses the property. James has first mortgage, a second mortgage, and there is a mechanicâs lien; his property taxes are also not paid. Which liens will be paid first?

The mayflower, a seafood restaurant, had the following liabilities by the end of 2015: accounts payable $60,000 wages payable $100,000 unearned revenue $125,000 (60% will be earned in 2016) notes payable $140,000 ($45,000 payable in 2016) what is the amount that the mayflower should report as total current liability on its balance sheet as of december 31, 2015?