21) Which of the following events does not create a liability? A) Buying goods and services on credit B) Obtaining a short-term loan C) Remitting sales tax to the government D) Issuing long-term debt 22) A company typically records the amount owed to suppliers for goods or services when: A) a verbal commitment to purchase the goods or services has first been made. B) payment is made. C) they are ordered. D) the goods or services are received. 23) Interest on an obligation is recorded: A) when a bank loan is obtained. B) when goods are purchased on account. C) at maturity. D as time passes. 24) In October, the CEO of Saguaro, Incorporated signs a note for $90,000 in order to buy new equipment. The note is due in five years, at 8% annual interest. Semiannual interest payments are due each April and October. Assuming no other long-term debt, what is the initial balance in the related long-term debt account? A) $82,800 B) $97,200 C) $93,600 D) $90,000 adt To 180 e d 25) For the employee, net pay is equal