Which of the following will most likely be classified as a current liability?

1. Payment received for a product due to be delivered at least a year after the balance sheet date
2. Payments for a product due at least a year after the balance sheet date but still within a normal operating cycle of business
3. Payments on debt due in six months for which the company has the right to defer settlement for at least a year after the balance sheet date. (A.). I only (B.) II only (C.) III only (D.) I, II, & III (E.) None of A, B, C, and D is correct.