Identify which of the following would be classified as current liabilities as of December 31, 2021: 1. Salaries and Wages Payable 2. 3. Bonds Payable, maturing in 2025 Interest Payable, due July 1, 2022 4. Sales Taxes Payable 5. Notes Payable, due January 30, 2023 2.Prepare the necessary journal entries for the following transactions: (a) On September 1, Cole Company borrowed $340,000 from National Bank on a 6-month, 6% note. (b) On December 31, Cole Company accrued interest (assume adjusting entries are only made at the end of the year).