Grayson River Rafting has the following liabilities: a. Accounts payable b. Note payable due in three years

Question:

Grayson River Rafting has the following liabilities:
a. Note payable due in three years
c. Salaries payable
d. Note payable due in six months
e. Sales tax payable
f. Unearned revenue
Indicate whether each liability would be considered a current liability (CL) or long-term liability (LTL).
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...