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Current Liabilities The following are accounts commonly used in accounting information systems: 1. Accounts payable 2.Saaries payable 3.Common stock 4.Current portion of long-term debt 5.Unearned

Current Liabilities

The following are accounts commonly used in accounting information systems:

1. Accounts payable

2.Saaries payable

3.Common stock

4.Current portion of long-term debt

5.Unearned revenue

6.Notes payable (due in 60 days)

7.Taxes payable

8.Allowance for doubtful accounts

9.Notes payable (due in 2 years)

Required: Identify whether each item would be classified on a balance sheet as a current liabiity, a long-term liability, or something else.

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