REPORTING LIABILITIES. Describe how each of the following items should be reported in the balance sheet:

a) A legally enforceable claim against the business to be paid in 3 months.

b) An excess of income taxes expense over income taxes assessed for a period.

c) A guarantee given by a seller to a purchaser to repair or replace defective goods during the first 6 months following sale.

d) An amount payable to Bank One in 10 years.

e) An amount to be paid next year to Citybank on a long-term note payable.