Classifying Current and Noncurrent Assets and Liabilities Classify the following assets and liabilities as current or noncurrent for the typical company. a. Bond payable, 10-year maturity b. Cash equivalents C. Building (in use) d. Note receivable, 2-year maturity e. Accounts payable f. Income taxes payable . A Created by SEASOF LID Preparing the Current Asset Section Prepare the current asset section of a classified balance sheet given the following account balances on December 31, 2020. Accounts receivable Allowance for doubtful accounts $90,000 Cash equivalents 4,000 Equipment 100,000 Inventory 28,000 Prepaid insurance $2,000 200,000 100,000 2,000 Accounts payable Cash Note: Combine cash and cash equivalents into one line item. Current Asset Section As of December 31, 2020 Cash and cash equivalents $ Accounts receivable, net of allowance 100,000 Total current assets $ Created by SEASOF LTD