Intermediate accounting-exercise E6-3 page 6-45-Journal Entry to Separate Receivables- An examination of Hutton Corporation's accounting records indicates that all receivables are being recorded in a single account entitled Receivables. An analysis of the account reveals the following:

Accounts Receivables (trade)-$15,500- Accounts Receivalbes (officers) $3,600-Interest receivables, due in 3 months $675-Advances to employee-$1,800-Notes Receivables (trade), due in 3 years-$9000-Deposit to guarantee contract performance-5,000-Utility deposit-$500-Total=$36,075.

Required:

1. Prepare a journal entry to separate the preceeding items into their proper accounts.

2. How would each of the preceding items normally be reflected (current or noncurrent; trade or nontrade receivable) on Hutton's balance sheet