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Pedrick, Inc. reports the following liabilities (in thousands) on its January 31, 2012, balance sheet and notes to the financial statements.
Instructions
(a) Identify which of the above liabilities are likely current and which are likely longterm. Say if an item fits in neither category. Explain the reasoning for your selection.
(b) Prepare the liabilities section of Pedrick's balance sheet as at January 31,2012.
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