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Classify each of the following accounts taken from Faust Companys balance sheet. Accounts payable Long-term LiabilitiesOwners EquityCurrent AssetsLong-term InvestmentsIntangible AssetsProperty, Plant, and EquipmentCurrent Liabilities Accounts

Classify each of the following accounts taken from Faust Companys balance sheet.
Accounts payable Long-term LiabilitiesOwners EquityCurrent AssetsLong-term InvestmentsIntangible AssetsProperty, Plant, and EquipmentCurrent Liabilities
Accounts receivable Long-term InvestmentsOwners EquityProperty, Plant, and EquipmentIntangible AssetsLong-term LiabilitiesCurrent AssetsCurrent Liabilities
Cash Long-term LiabilitiesIntangible AssetsOwners EquityCurrent LiabilitiesCurrent AssetsLong-term InvestmentsProperty, Plant, and Equipment
L. Dawn, capital Long-term InvestmentsCurrent AssetsProperty, Plant, and EquipmentIntangible AssetsCurrent LiabilitiesLong-term LiabilitiesOwners Equity
Patents Property, Plant, and EquipmentIntangible AssetsCurrent AssetsCurrent LiabilitiesLong-term LiabilitiesOwners EquityLong-term Investments
Salaries payable Property, Plant, and EquipmentIntangible AssetsLong-term InvestmentsCurrent LiabilitiesOwners EquityLong-term LiabilitiesCurrent Assets
Merchandise inventory Long-term InvestmentsCurrent AssetsOwners EquityLong-term LiabilitiesProperty, Plant, and EquipmentIntangible AssetsCurrent Liabilities
Short-term investments (to be sold in 7 months) Intangible AssetsOwners EquityCurrent LiabilitiesCurrent AssetsLong-term LiabilitiesLong-term InvestmentsProperty, Plant, and Equipment
Accumulated depreciationequipment Current LiabilitiesCurrent AssetsLong-term LiabilitiesOwners EquityIntangible AssetsLong-term InvestmentsProperty, Plant, and Equipment
Buildings Owners EquityCurrent AssetsLong-term InvestmentsLong-term LiabilitiesIntangible AssetsProperty, Plant, and EquipmentCurrent Liabilities
Land (in use) Owners EquityCurrent AssetsLong-term InvestmentsProperty, Plant, and EquipmentCurrent LiabilitiesIntangible AssetsLong-term Liabilities
Notes payable (due in 2 years) Long-term LiabilitiesIntangible AssetsCurrent AssetsLong-term InvestmentsProperty, Plant, and EquipmentOwners EquityCurrent Liabilities
Supplies Long-term LiabilitiesCurrent LiabilitiesProperty, Plant, and EquipmentOwners EquityIntangible AssetsCurrent AssetsLong-term Investments
Equipment Long-term InvestmentsProperty, Plant, and EquipmentIntangible AssetsCurrent LiabilitiesCurrent AssetsLong-term LiabilitiesOwners Equity
Prepaid expenses Current AssetsLong-term LiabilitiesLong-term InvestmentsProperty, Plant, and EquipmentOwners EquityIntangible AssetsCurrent Liabilities

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