3-6A (Algo) Determining balance sheet classifications LO C2 Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long-Term Liabilities, and Equity. For each of the following items, identify the balance sheet category where the item typically would best appear. If an item does not appear on the balance sheet, indicate that instead. Account Title 1. Interest receivable 2. Machinery 3. Prepaid rent (2 months of Rent). 4. Equipment 5. Repairs expense 6. Land 7. Depreciation expense-Building 8. Office equipment 9. Cash 10. Buildings Classification Account Title 11. Bonds payable (due in 10 years) 12. Trucks 13. Mortgages payable (due in 6 years) 14. Automobiles 15. Notes payable (due in 3 years) 16. Utilities expense 17. Services revenue. 18. Notes receivable (due in 2 years) 19. Interest payable (due in 1 week) 20. Long-term investment in stock Classification