5) Classify each of the following items as either: 10 points

A. Current liability

B. Long-term liability

C. Not a liability

1. 60-day note payable

2. A loan due in 3 months

3. Salaries payable

4. Debt guarantees

5. FICA taxes payable

6. Income taxes payable

7. A note payable due in 45 days

8. A loan due in 10 years

9. Warranty work completed this year

10. Accounts payable