Classifications on Balance Sheet The current balance sheet of J. Arvesen Company contains the following major sections:

Classifications on Balance Sheet The current balance sheet of J.J. Arvesen Company contains the following major sections: Current assets Long-term investments Property, plant, and equipment Intangible assets Other assets Current liabilities Long-term liabilities Contributed capital Retained earnings Accumulated other comprehensive income The following is a list of accounts. Using the letters A through j, indicate in which section of the balance sheet each account would most likely be classified. If an account does not belong under one of the sections listed, select "Not under any of the choices" from the classification drop down box. For all accounts, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet by selecting "yes" from the second drop down box, otherwise select "no". Account Classification Contra or Deducted (Yes/No) 1. Patents (net) -Select your answer-ABCDEFGHIJNot under any of the choicesItem 1 -Select your answer-YesNoItem 2 2. Income taxes payable -Select your answer-ABCDEFGHIJNot under any of the choicesItem 3 -Select your answer-YesNoItem 4 3. Notes receivable (due in 5 months) -Select your answer-A BCD E FGHIJNot under any of the choicesItem 5 -Select your answer-YesNoItem 6 4. Unearned rent -Select your answer-AB CDE FGHIJNot under any of the choicesItem 7 -Select your answer-YesNoItem 8 5. Discount on bonds payable (long-term bonds) -Select your answer-ABCD EFGHIJNot under any of the choicesItem 9 -Select your answer-YesNoItem 10 6. Computer Equipment in the Data processing center -Select your answer-AB CDE FGHIJNot under any of the choicesItem 11 -Select your answer-YesNoItem 12 7. Furniture -Select your answer-ABCDEFGHIJNot under any of the choicesItem 13 -Select your answer-YesNoItem 14 8. Land held for future expansion -Select your answer-A BCDEFGHIJNot under any of the choicesItem 15 -Select your answer-YesNoItem 16 9. Timberland (net) -Select your answer-ABCDEFGHIJNot under any of the choicesItem 17 -Select your answer-YesNoItem 18 10. Treasury stock, at cost -Select your answer-ABCDE FGHIJNot under any of the choicesItem 19 -Select your answer-YesNoItem 20