E$14-1($Classification of Liabilities$)$ Presented below are various account balances.

$($a$)$ Bank loans payable of a winery, due March $10,2016.($The product requires aging for $5$ years before sale.

$($b$)$ Unamortized premium on bonds payable, of which $$3,000$ will be amortized during the next year.

$($c$)$ Serial bonds payable, $$1,000,000,$ of which $$250,000$ are due each July $31.$

$($d$)$ Amounts withheld from employee$$s wages for income taxes.

$($e$)$ Notes payable due January $15,2015.$

$($f$)$ Credit balances in customers$$ accounts arising from returns and allowances after collection in full of accounts.

$($g$)$ Bonds payable of $$2,000,000$ maturing June $30,2014.$

$($h$)$ Overdraft of $$1,000$ in a bank account. $($No other balances are carried at this bank.$)$

$($i$)$ Deposits made by customers who have ordered goods.

Instructions

Indicate whether each of the items above should be classified on December $31,2013,$ as a current liability, a long$-$term liability, or under some other classification. Consider each one independently from all other$$s; that is$,$ do not assume that all of them relate to one particular business. If the classification of some of the items is doubtful, explain why in each case.