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Coors Company has these obligations at December 31: (a) a note payable for $100,000 due in 2 years, (b) a 10-year mortgage payable of $250,000
Coors Company has these obligations at December 31: (a) a note payable for $100,000 due in 2 years, (b) a 10-year mortgage payable of $250,000 payable in ten $25,000 annual payments and (c) interest payable of $15,000 on the mortgage, and (d) accounts payable of $70,000. For each obligation, indicate whether it should be classified as a current liability, noncurrent liability, or both.
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