Classify Each of the Following Items as Either

Essay

Classify each of the following items as either:
a.Current liability
b.Long-term liability
c.Not a liability
1.30-day promissory note
2.Payment of a 4-year term loan due this year
3.Salaries payable
4.Debt guarantees
5.FICA taxes payable
6.Income taxes payable
7.Payment of a 30-year term loan due this year
8.Payment of a 30-year term loan due next year.(The company's operating cycle is 2
months.)
9.Warranty work completed this year
10.Accounts payable