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For each of the following situations, indicate the amount shown as current or long-term liability on the balance sheet of Anchor, Inc., at December 31:

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For each of the following situations, indicate the amount shown as current or long-term liability on the balance sheet of Anchor, Inc., at December 31: a. Anchor's general ledger shows a credit balance of $187,500 in Long-Term Notes Payable. Of the amount, a $37,500 installment becomes due on June 30 of the following year. b. Anchor estimates its unpaid income tax liability for the current year is $51,000; it plans to pay this amount in March of the following year. c. On December 31, Anchor received a $22,500 invoice for merchandise shipped on December 28. The merchandise has not yet been received. The merchandise was shipped F.O.B. shipping point. d. During the year, Anchor collected $15,750 of state sales tax. At year-end, it has not yet remitted $2,100 of these taxes to the state department of revenue. e. On December 31, Anchor's bank approved a $7,500, 90-day loan. Anchor plans to sign the note and receive the money on January 2 of the following year. Current Liability Long-Term Liability $ 0 X $ 0 X 0 X 0 a. Balance in Long-Term Notes Payable b. Unpaid income tax liability c. Merchandise shipped F.O.B. Shipping Point d. Sales tax collected e. Bank loan OX 0 OX 0 0

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