The following items appear on the balance sheet of a company with a two-month operating cycle. Identify the proper classification of each item as follows: C if it is a current liability, L if it is a long-term liability, or N if it is not a liability.
______ 1. Sales taxes payable.
______ 2. FUTA taxes payable.
______ 3. Accounts receivable.
______ 4. Wages payable.
______ 5. Salaries payable.
______ 6. Notes payable (due in 6 to 12 months).
______ 7. Notes payable (due in 120 days).
______ 8. Current portion of long-term debt.
______ 9. Notes payable (mature in five years).
______ 10. Notes payable (due in 13 to 24 months).