Problem 3-7A Determining balance sheet classifications LO C3 From the dropdown box beside each numbered balance sheet item, select the option of its balance sheet classification. If the item should not appear on the balance sheet, choose the option "No item required" from the selection choices. Classification Account Title Classification Account Title 1. Long-term investment in stock 2. Depreciation expense-Building 3. Prepaid rent (2 months of rent) 4. Interest receivable 5. Taxes payable (due in 5 weeks) 6. Automobiles 7. Notes payable (due in 3 years) 8. Accounts payable 9. Cash 10 common cock 11. Unearned services revenue 12. Accumulated depreciationTrucks 13. Prepaid insurance (expires in 5 months) 14. Buildings 15. Store supplies 16. Office equipment 17. Land (used in operations) 18. Repairs expense 19. Office supplies on current action of long term neto povabla