The following are the typical classifications used in a balance sheet:
a. Current assets
b. Investments
c. Property, plant, and equipment
d. Intangible assets
e. Other assets
f. Current liabilities
g. Long-term liabilities
h. Paid-in capital
i. Retained earnings

Required:
For each of the following 2021 balance sheet items, use the letters above to indicate the appropriate classification category. If the item is a contra account, place a minus sign before the chosen letter.
1. Interest payable (due in 3 months)
2. Franchise
3. Accumulated depreciation
4. Prepaid insurance (for 2022)
5. Bonds payable (due in 10 years)
6. Current maturities of long-term debt
7. Notes payable (due in 3 months)
8. Long-term receivables
9. Restricted cash (will be used to retire bonds
in 10 years)
10. Supplies
11. Machinery
12. Land (used in operations)
13. Deferred revenue (for 2022)
14. Copyrights
15. Common stock
16. Land (held for speculation)
17. Cash equivalents
18. Salaries payable