Chapters 9-12 Question 12 Which of the following defines notes payable? 3 pts O The amount of money due to a business from prior credit sales. O Money, such as short-term bank loans or mortgage obligations, that is owed and must be repaid within a year. O An accrual accounting term that represents payments in advance of their actual occurrence. O Short-term obligations that a business owes to suppliers, vendors, and other creditors. O A formal debt instrument that will be paid to the company within a year