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The following items might appear on the balance sheet of a corporation that has a two-month operating cycle. Classify each item as either current liability,
The following items might appear on the balance sheet of a corporation that has a two-month operating cycle. Classify each item as either current liability, long-term liability, or not a liability (a) Rent receivable (b) Accounts payable in 9 months (c) Mortgage payable (portion due within the next 180 days) (d) Notes payable within 150 days. (e) Notes payable (due in 21 months) (Select One) (Select One) (Select One) (Select One) (Select One)
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