For each item below, identify the amount (if any) that would be reported as a liability on Nike's month-end balance sheet. 1. Nike, Inc. agreed to purchase next month, material for its new line of running shoes. 2. Nike, Inc. borrowed $75,000 to finance it's seasonal working capital needs this month. 3. Nike, Inc. has accounts payable of $120,000 for material included in current inventory. 4. Nike, Inc. is obligated for $100,000 rent each month. Rent for this month has not yet been paid. 27

For each item below, identify the amount (if any) that would be reported as a liability on Nike's month-end balance sheet. 1. Nike, Inc: agreed to purchase next month, material for its new line of running shoes. 2. Nike, Inc, borrowed $75,000 to finance it's seasonal working capital needs this month. 3. Nike, Inc, has accounts payable of $120,000 for material included in current inventory. 4. Nike, Inc. is obligated for $100,000 rent each month. Rent for this month has not yet been paid