On September 1, 2019, a company borrowed cash and signed a 1-year, interest-bearing note on which both the principal and interest are payable on September 1, 2021. How will the note payable and the related interest be classified in the December 31, 2019, balance sheet?

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Accrued Interest Noncurrent liability Current liability Current liability Note Payable a. Current liability b. Noncurrent liability Current liability d. Noncurrent liability C. No entry