Question: On October 1 , 2 0 2 1 , a company issued a note payable of $ 1 0 0 , 0 0 0 ,
On October a company issued a note payable of $ of which $ will be repaid each year. What is the proper classification of this note on the company's December balance sheet?
Group of answer choices
$ current liability; $ longterm liability
$ current liability; $ longterm liability
$ current liability; $ longterm liability
$ current liability; $ longterm liability
$ longterm liability; $ current liability
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