At December 31, a company has a note payable due January 8 of the following year. Management intends to refinance the note long-term, but has no financial agreement to do so. In its balance sheet for the current year ended December 31, the company should report the note as a current liability report the note as a long-term liability

At December 31 , a company has a note payable due January 8 of the following year. Management intends to refinance the note long-term, but has no financial agreement to do so. In its balance sheet for the current year ended December 31 , the company should report the note as a current liability report the note as a long-term liability