The following items appear on the balance sheet of a company with a one-year operating cycle. Identify the proper classification of each item as follows: Cif it is a current liability, L if it is a long-term liability, or N if it is not a liability. Item Classification Salaries payable. 2. Sales taxes payable. Bonds payable (due in 2 years) 4. Notes payable (due in 120 days). 5. Warranty liability (6 months of coverage) 6. Machinery (expected life of 4 years) 7. Accounts payable (due in 30 days) 8. Unearned revenues (to be eamed over next 3 months) 9. Bonds payable (due in 9 months) 10. Employee Union Dues Payable