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For each of the items listed below, indicate if it's a current liability, long-term liability or not a liability. 90-day, 12%, Note Receivable Answer 1Choose...Long-Term

For each of the items listed below, indicate if it's a current liability, long-term liability or not a liability.

90-day, 12%, Note Receivable

Answer 1Choose...Long-Term LiabilityCurrent LiabilityNot a Liability

120-day, 8%, Note Payable taken out on November 1st.

Answer 2Choose...Long-Term LiabilityCurrent LiabilityNot a Liability

Annual mortgage payment of $15,000 on a mortgage with 12 years left until maturity.

Answer 3Choose...Long-Term LiabilityCurrent LiabilityNot a Liability

Allowance for Doubtful Accounts

Answer 4Choose...Long-Term Liability,Current Liability,Not a Liability

Warranty Expense

Answer 5Choose...Long-Term LiabilityCurrent LiabilityNot a Liability
employment insurance deductions from an employees salary Answer 6Choose...Long-Term LiabilityCurrent LiabilityNot a Liability

Corporate income taxes payable.

Answer 7Choose...Long-Term LiabilityCurrent LiabilityNot a Liability

Estimated Warranty Liability

Answer 8Choose...Long-Term LiabilityCurrent LiabilityNot a Liability
Car loan obtained from Honda Finance due in 5 years Answer 9Choose...Long-Term LiabilityCurrent LiabilityNot a Liability

HST collected from the sales

Answer 10Choose...Long-Term LiabilityCurrent LiabilityNot a Liability

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