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QS 10-1 Distinguishing between current and non-current liabilities LO1 Which of the following items should...

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Accounting

QS 10-1 Distinguishing between current and non-current liabilities LO1

Which of the following items should normally be classified as a current liability for Prairie Brewing Company? Prairie has a 15-month operating cycle.

  1. A note payable due in 18 months.
  2. Salaries payable.
  3. A payable that matures in two years.
  4. A note payable due in 10 months.

The portion of a long-term note that is due to be

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