Jet Fast Printing reported the following:

Requirements
1. Identify the assets (including contra assets) and liabilities.
2. Classify each asset and each liability as current orlong-term.

Transcribed Image Text:

Buildings Accounts payable Total expenses $4,200 Service revenue $1,115 400 1,200 Receivables 3,000 Interest expense 400 Equipment 700 110 Accumulated depreciation Accrued liabilities (such as Salary payable) Prepaid expenses 1,100 300