Presented below are various account balances.

a. Bank loans payable of a winery, due March 10, 2025. (The product requires aging for 5 years before sale.)

b. Serial bonds payable, €1,000,000, of which €250,000 are due each July 31.

c. Amounts withheld from employees’ wages for income taxes.

d. Notes payable due January 15, 2024.

e. Credit balances in customers’ accounts arising from returns and allowances after collection in full of account.

f. Bonds payable of €2,000,000 maturing June 30, 2023.

g. Overdraft of €1,000 in a bank account. (No other balances are carried at this bank.)

h. Deposits made by customers who have ordered goods.

Instructions

Indicate whether each of the items above should be classified on December 31, 2022, as a current liability, a non-current liability, or under some other classification. Consider each one independently from all others; that is, do not assume that all of them relate to one particular business. If the classification of some of the items is doubtful, explain why in each case.