Which of the following statements is true?

- If any portion of a non-current liability is to be paid in the next year, the entire debt should be classified as a current liability.

- Current maturities of non-current debt refers to the amount of interest on notes payable that must be paid in the current year.

- Even though current and non-current debt must be shown separately on the statement of financial position, it is not necessary to prepare a journal entry to recognize this.

- A non- current liability is an obligation that is expected to be paid within one year.