Question: Question Content Area A company has a note payable that is due on December 3 1 , Year 2 . In its December 3 1

Question Content Area
A company has a note payable that is due on December 31, Year 2. In its December 31, Year 1 balance sheet, this note payable should be classified as a
a. current liability.
b. long-term asset.
c. current asset.
d. long-term liability.

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