RS Compary borrowed $$70,000$ on December $1$ on a $6-$month, $12\%$ note. At December $31$

neither the notes payable nor the interest payable is a current liability.

the notes payable is a current liability, but the interest payable is not.

the interest payable is a current liability but the notes payable is not.

both the notes payable and interest payable are current liabilities.