Chapter 09 Homework Saved The following items appear on the balance sheet of a company with a one year operating cycle. Identify the proper classification of each item as follows: Cif it is a current liability, L if it is a long-term liability, or N if it is not a liability. Item Classification points eBook 1. Notes payable (due in 13 to 24 months). 2. Notes payable (mature in five years). 3. Pension liability (to be paid to employees retiring in 2 to 5 years). 4. Accounts payable (due in 30 days). 5. Notes payable (due in 6 to 11 months). 6. Bonus payable (to be paid in 60 days). 7. Unearned revenues (to be earned over next 3 months). 8. Accounts receivable. 9. Patents (to expire after 5 years). 10. Notes payable (due in 120 days). Print References