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At the balance sheet date, a business owes a mortgage note payable of $375,000, the terms of which provide for monthly payments of $1,250. How

At the balance sheet date, a business owes a mortgage note payable of $375,000, the terms of which provide for monthly payments of $1,250. How should the liability be classified on the balance sheet? Current liability: $fill in the blank 1 Long-term liability: $fill in the blank 2

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