(Solution) - Sanchez Inc reports the following liabilities in thousands on its -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

Paper Format: APA

Pages: 5 Words: 1375

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Sanchez, Inc. reports the following liabilities (in thousands) on its December 31, 2017, balance sheet and notes to the financial statements.

Instructions
(a) Identify which of the above liabilities are likely current and which are likely long-term. List any items that do not fit in either category. Explain the reasoning for your selection.
(b) Prepare the liabilities section of Sanchez's balance sheet as at December 31, 2017.