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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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