Classifying Current and Noncurrent Assets

Review the following separate items and determine the proper classification as of December $31,$ as a current or noncurrent asset, or some combination.

a$.$ $$100,000,$ long$-$term note receivable, with an installment payment of $$10,000$ due June $30$ of the next year.

Current asset Answer

$0$

Noncurrent asset Answer

$0$

b$.$ $$10,000$ investment in equity securities where the company $($owner of the investment$)$ intends to sell the securities sometime in the next year.

Current asset Answer

$0$

Noncurrent asset Answer

$0$

c$.$ $$80,000$ investment in land that is held for speculative purposes.

Current asset Answer

$0$

Noncurrent asset Answer

$0$

d$.$ $$28,000$ in accounts receivable, with an associated allowance for doubtful accounts of $$2,000.$

Current asset Answer

$0$

Noncurrent asset Answer

$0$