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

126. Classify each of the following items as a current liability, long-term liability, or not a liability: 1. FICA taxes payable. Current liability 2. Payment of a 4-year loan due...

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

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

May 15, 2022