On August $1,2020,$ a company borrowed cash and signed a one$-$year interest$-$bearing note on which both the face value and interest are

payable on August $1,2021.$ How will the note payable and the related interest be classified in the Decernber $31,2020,$ balance sheet?

Note Payable

Interest

Payable

Current

Current liability

liability

Noncurrent Current liability

liability

Noncurrent Notshown

liability

Current

Noncurrent

liability

liability