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Buffaloe company has the following obligations at december 3

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Buffaloe Company has the following obligations at December 31: 

(a) A note payable for $100,000 due in 2 years, 

(b) A 10-year mortgage payable of $300,000 payable in ten $30,000 annual payments, 

(c) Interest payable of $15,000 on the mortgage, and 

(d) Accounts payable of $60,000. For each obligation, indicate whether it should be classified as a current liability. (Assume an operating cycle of less than one year.)

Reference no: EM131128932

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