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 Nif it is not a liability. Item Classification 1. Machinery (expected life of 4 years). 2. Wages payable. 3 Sales taxes payable. 4 Salaries payable. 5. FUTA taxes payable. 6. Pension liability (to be fully paid to retired employees in next 11 months). 7. Notes payable (due in 120 days) 8 Bonus payable (to be paid in 60 days). 9. Interest payable (due in 90 days). 10. Accounts receivable