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. Anchors general ledger shows a credit balance of $125,000 in Long-Term Notes Payable. Of the amount, a $25,000 installment becomes due on June 30 of the following year. b. Anchor estimates its unpaid income tax liability for the current year is $34,000; it plans to pay this amount in March of the following year. c. On December 31, Anchor received a $15,000 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 $10,500 of state sales tax. At year-end, it has not yet remitted $1,400 of these taxes to the state department of revenue. e. On December 31, Anchors bank approved a $5,000, 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
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

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