The City of San Marcos wants cash for a city road project. On September 1, 2022, it issued a five- year bond for $600,000 at a 5% annual interest rate. The bond payable will be classified on the balance sheet as a: O long-term asset O investments long-term liability O current liability

The City of San Marcos wants cash for a city road project. On September 1.2022, it issued a fiveyear bond for $600,000 at a 5% annual interest rate. The bond payable will be classified on the balance sheet as a: long-term asset Investments long-term liability current liability