126. Classify each of the following items as a: current liability, long-term liability or not a liability. 1. Accounts payable Current liability 2. Payment of a 30-year loan due this year Current liability 3. Warranty work completed this year Current liability 4. Income taxes payable Not a liability 5. Payment of a 30-year loan due next year (The company operating cycle is 2 months) Current liability 6. Salaries payable Long-term liability 7. 30-day promissory note Current liability 8. Payment of a 4-year loan due this year Current liability 9. FICA taxes payable Current liability 10. Debt guarantees Not a liability

126. Classify each of the following items as a: current liability, long-term liability or not a liability. 1. Accounts payable Current liability 2. Payment of a 30-year loan due...

126. Classify each of the following items as a: current liability, long-term liability or not a liability.

1. Accounts payable	Current liability
2. Payment of a 30-year loan due this year	Current liability
3. Warranty work completed this year	Current liability
4. Income taxes payable	Not a liability
5. Payment of a 30-year loan due next year (The company operating cycle is 2 months)	Current liability
6. Salaries payable	Long-term liability
7. 30-day promissory note	Current liability
8. Payment of a 4-year loan due this year	Current liability
9. FICA taxes payable	Current liability
10. Debt guarantees	Not a liability

May 15, 2022