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You have been asked to review the December 31, 2024, balance sheet for Champion Cleaning. After completing your review, you list the following three items

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You have been asked to review the December 31, 2024, balance sheet for Champion Cleaning. After completing your review, you list the following three items for discussion with your superior: 1. An investment of $33,000 is included in current assets. Management has indicated it has no intention of liquidating the investment in 2025 2. A $130,000 note payable is listed as a long-term liability, but you have determined that the note is due in 10 equal annual installments with the first installment due on March 31,2025. 3. Deferred revenue of $69,000 is included as a current liability even though only two-thirds will be recognized as revenue in 2025 , and the other one-third in 2026. Determine the appropriate classification of each of these items. Note: If no entry is required for classification, choose "No entry

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