Sanchez, Inc. reports the following liabilities (in thousands) on its December 31, 2025, balance sheet and notes

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Sanchez, Inc. reports the following liabilities (in thousands) on its December 31, 2025, balance sheet and notes to the financial statements.image



Instructionsa. Identify which of the above liabilities are likely current and which are likely long-term. List any items that do not fit in either category. Explain the reasoning for your selection.b. Prepare the liabilities section of Sanchez’s balance sheet as at December 31, 2025.

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Accounting Tools For Business Decision Making

ISBN: 9781119791058

8th Edition

Authors: Paul D. Kimmel,  Jerry J. Weygandt,  Jill E. Mitchell

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