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Allocate the following definitions to the correct balance sheet item:

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Allocate the following definitions to the correct balance sheet item:

Assets which convert to cash within 12 months e.g., short term. Cash in tills or bank accounts, accounts receivables (money owed by customers)

Long term bills such as term bank loans, leases

Bill that needs to be paid in the short term. For example, Bank overdraft, accounts payable (money owed to suppliers)

Monies received from shareholders purchasing shares.

Assets that can be converted to cash over a longer-term nature such as production plant and equipment, buildings.

Earnings kept within the business.

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