Mr. Morgan earns $38,000 a year as a salesperson and a 5% commission on all his sales. He has a mortgage of $910 a month and pays $175 a month for utilities. Mr. Morgan owns a rental property for which he receives $680 per month.Which is a liability?
Rita does chores for her neighbors and makes $45 each weekend. She owes her sister $80. Rita has $178 in coins and a collection of baseball cards worth $475.Which is a liability?
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