Question: Balance Sheet Classification At the balance sheet date, a business owes a mortgage note payable of $495,000, the terms of which provide for monthly poyments

Balance Sheet Classification At the balance sheet date, a business owes a mortgage note payable of $495,000, the terms of which provide for monthly poyments of $1,650. How should the liablity be dassified on the balance sheet? Current Hability: 1 Long-term liability: 9

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