A company borrowed $7,000 on July 1 by issuing a 36-month, 10% note. Both the note and the interest will be paid when the note matures. Which statement is true at December 31? The company has $167 of interest payable that is a current liability The company has $225 of interest payable that is a long-term liability, The company has $700 of interest payable that is a current liability, The company has $350 of interest payable that is a long-term liability. The company has $700 of interest payable that is a long-term liability