Current Attempt in Progress

Classify each of the following accounts taken from Faust Company's balance sheet.

Accounts payable

Accounts receivable

Cash

L$.$ Dawn, capital

Current Assets

Current Liabilities

Intangible Assets

Long$-$term Investments

Long$-$term Liabilities

Owner's Equity

Property, Plant, and Equipment

Patents

Salaries payable

Merchandise inventory

Short$-$term investments $($to be sold in seven months$)$

Accumulated depreciation$-$equipment

Buildings

Land $($in use$)$

Notes payable $($due in two years$)$

Supplies

Equipment

Prepaid expenses

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