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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. 525,000 , long-term note receivable, with an installment payment of $2,500 due june 30 of the next year. b. 52,500 investment in equity securities where the compsny (owner of the investment) intends to sell the securities sometime in the next year. c. $20,000 imvestment in land that is held for speculative purposes. d. $7,000 in accounts receivable, with an associated allowance for doubtful accounts of $500. 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. 525,000 , long-term note receivable, with an installment payment of $2,500 due june 30 of the next year. b. 52,500 investment in equity securities where the compsny (owner of the investment) intends to sell the securities sometime in the next year. c. $20,000 imvestment in land that is held for speculative purposes. d. $7,000 in accounts receivable, with an associated allowance for doubtful accounts of $500