Exercise 10-1 Classifying liabilities LO1 The following list of items appear on the balance sheet of Crunched Auto Body Repair Shop, which has a 12-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 non-current 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 18 months. h Income taxes payable. i. Estimated warranty liability. j. Allowance for doubtful accounts