Describe briefly how each of the following long-term liabilities arises (i.e. ,what kind of transaction produces the resulting long-term liability?)You may want to include the appropriate accounts to increase or decrease (ignore amounts)in your description.
a)Long-term debt
b)Deferred income taxes

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The Answer of  Describe briefly how each of the following long-term liabilities arises (i.e. ,what kind of transaction produces the resulting long-term liability?)You may want to include the appropriate accounts to increase or decrease (ignore amounts)in your description.
a)Long-term debt
b)Deferred income taxes

Describe Briefly How Each of the Following Long-Term Liabilities Arises