The adjusted trial balance for Ray Corporation at July 31, 2017, the corporation's fiscal year end, contained the following:

Of the lease liability amount, $16,250 is due within the next year. Total payments on the note payable in the fiscal year 2018 will be $27,000: $7,000 is for interest and $20,000 for principal repayments.
Instructions
(a) Prepare the non-current liabilities section of the balance sheet as at July 31, 2017.
(b) Some of the accounts above belong in the balance sheet but not in its non-current liabilities section. What is the correct classification for them?

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Accounts payable Accounts receivable Bonds payable, due 2021 Interest payable S 96,000 112,000 205,000 5,000 Note payable Lease liability Note receivable, due December 2017 Unearned revenue $140,000 65,000 35,000 10,000