1. Classify the following by making a check under the proper heading: Lumen Subility Account payable Inventory Intl Tec Lean duen days CA Active Property and equipment 2. When George, who built golf courses, bought his Automatic Sand Trap Machine for $100,000, he paid $20,000 of his own money and bor- rowed $80,000 from the Easymoney National Bank. He borrowed the money on January 1 of year 1 and was to repay it in annual payments of $16,000 principal plus interest (10 percent), due on December 31. He made all payments before the due date. Determine how this liabil- ity should be divided between current and long-term liabilities on George's balance sheet at the end of the second year. Beginning balance of loan Subtract payments made Balance Subtract current portion