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On August 1, 2010, a company borrowed cash and signed a one-year interest-bearing note on which both the face value and interest are payable on

On August 1, 2010, 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, 2011. How will the note payable and the related interest be classified in the December 31, 2010, balance sheet? Note Payable Interest Payable Question 3 options: A) Current liability Noncurrent liability B) Noncurrent liability Current liability C) Noncurrent liability Not shown D) Current liability Current liability

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