At year end an entity has 120 day note payable outstanding. The entity has followed the policy of replacing the note rather than repaying it over the last three years. The entity's treasurer says that this policy is expected to continue indefinitely, and the arrangement is acceptable to the bank to which the note was issued. What is the proper classification of the note in the year end statement of financial position

a.Deferred revenue account

b.Sales contracts receivable valuation account

c.Shareholders' equity valuation account

d.Service revenue account