the following list of items might appear as liabilities on the balance sheet of a co 4375630

The following list of items might appear as liabilities on the balance sheet of a company that has a two-month operating cycle. Identify the proper classification of each item. In the space beside each item write a C if it is a current liability, an L if it is a long-term liability, or an N if it is not a liability.a. Wages payable.b. Notes payable in 60 days.c. Mortgage payable (payments due in the next 12 months).d. Notes receivable in 90 days.e. Note payable (matures in 5 years).f. Mortgage payable (payments due after the next 12 months).g. Notes payable due in 6 to 12 months.h. Income taxes payable.i. Estimated warranty liability.j. Allowance for doubtful accounts.View Solution:
The following list of items might appear as liabilities on

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