The following items appear on the balance sheet of a company with a one-year operating cycle. Identify the proper classification of each item as follows: C if it is a current liability, L if it is a long-term liability, or N if it is not a liability.

Exercise 9-1 Classifying liabilities LO C1 The following items appear on the balance sheet of a company with a one-year operating cycle. Identify the proper classification of each item as follows: $C$ if it is a current liability, $L$ if it is a long-term liability, or $N$ if it is not a liability.

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The following items appear on the balance sheet of a company with a one-year operating cycle. Identify the proper classification of each item as follows: C if it is a current liability, L if it is a long-term liability, or N if it is not a liability.

Exercise 9-1 Classifying liabilities LO C1
The following items appear on the balance sheet of a company with a one-year opera

Exercise 9-1 Classifying liabilities LO C1 The following items appear on the balance sheet of a company with a one-year operating cycle. Identify the proper classification of each item as follows:

C

if it is a current liability,

L

if it is a long-term liability, or

N

if it is not a liability.

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