1. (20 points) Classify each of the following items as either: A. Current liability B. Long-term liability C. Not a liability Put the letter of your answer on the line next to the term. 1. 60-day promissory note 2. Payment of a 4-year term loan due this year 3. Salaries payable 4. Debt guarantees 5. FICA taxes payable 6. Income taxes payable 7. Payment of a 30-year term loan due this year 8. Payment of a 30-year term loan due next year. (The company's operating cycle is 2 months.) 9. Warranty work completed this year 10. Accounts payable