Employees of Stockman Company earned $10,000 in the last week of 2011, for which they were paid in 2012. The $10,000 was [an expense /

an expenditure / both an expense and an expenditure] in 2011.

On December 31, 2011, Stockman Company owed its employees

$10,000. It would report a l ______ y of $10,000 on its December 31, 2011, balance sheet.