(Classification of balance sheet accounts, LO 1, 4) Classify each of the following balance sheet accounts as a current asset, non-current asset, current liability, or noncurrent liability. Briefly explain your classification:

a. inventory

b. accounts payable that are usually paid within 60 days of receiving an invoice from a supplier r accounts receivable from customers that are expected to be paid within 30 days C.

d. land

e. furniture in the company’s head office

f. bank loan that the bank can ask the company to repay at any time g. account receivable that will be paid by the customer in two years h. bank loan that must be repaid in full in three years