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5) Classify each of the following items as either: 10 points
A. Current liability
B. Long-term liability
C. Not a liability
1. 60-day note payable
2. A loan due in 3 months
3. Salaries payable
4. Debt guarantees
5. FICA taxes payable
6. Income taxes payable
7. A note payable due in 45 days
8. A loan due in 10 years
9. Warranty work completed this year
10. Accounts payable
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