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Accounting
Categorize each of the following liabilities as a short-term liability or a long-term liability. This month's electric bill Educational loan* Home equity loan* This month's water bill Washer/dryer loan due this year Property taxes Short-Term Liability Long-Term Liability *The amount not due in the current year O O O O

Categorize each of the following liabilities as a short-term liability or a long-term liability. This month's electric bill Educational loan* Home equity loan* This month's water bill Washer/dryer loan due this year Property taxes Short-Term Liability Long-Term Liability *The amount not due in the current year O O O O

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A long-term Categorize each of the following liabilities as a short-term liability or a long-term liability. liability is not due in the current year. This month's electric bill Educational loan* Home equity loan* This month's water bill Washer/dryer loan due this year Property taxes Short-Term Liability Long-Term Liability *The amount not due in the current year oooO As you gather data regarding your liabilities, it is important to remember that regardless of category, you should record a sheet at their current payoff amounts, which should exclude future interest payments.
Transcribed Image Text:A long-term Categorize each of the following liabilities as a short-term liability or a long-term liability. liability is not due in the current year. This month's electric bill Educational loan* Home equity loan* This month's water bill Washer/dryer loan due this year Property taxes Short-Term Liability Long-Term Liability *The amount not due in the current year oooO As you gather data regarding your liabilities, it is important to remember that regardless of category, you should record a sheet at their current payoff amounts, which should exclude future interest payments.
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