Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long-Term Liabilities, and Equity. For each of the following items, identify the balance sheet category where the item typically would best appear. If an item does not appear on the balance sheet, indicate that instead.
1. Commissions revenue
2. Interest receivable
3. Long-term investment in stock
4. Prepaid insurance (4 months of rent)
5. Machinery
6. Notes payable (due in 15 years)
7. Copyrights
8. Rent payable
9. Trucks
10. Office equipment
11. Rent receivable
12. Salaries payable
13. Income taxes payable (due in 11 weeks)
14. Patents
15. Office supplies
16. Interest payable
17. Rent revenue
18. Notes receivable (due in 10 years)
19. Land
20. Depreciation expense—Trucks