Classification in current liability and noncurrent liability

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Reference no: EM131830683

Question: Busch Company has these obligations at December 31:

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

(b) a 10-year mortgage payable of $200,000 payable in ten $20,000 annual payments and

(d) accounts payable of $60,000.

For each obligation, indicate whether it should be classified as a current liability, noncurrent liability, or both.

Reference no: EM131830683

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