QUESTION 4 If at the end of the year, a company has a short-term note payable outstanding that was entered into earlier in the current year: Short-term notes payable and interest payable will appear on the balance sheet; and interest expense will appear on the income statment. Short-term notes payable will appear on the balance sheet; and interest expense and interest payable will appear on the income statement. Interest payable will be the only item appearing on the balance sheet. None of the above answers is correct