Classified on the balance sheet

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Among the short-term obligations of Daisy Company as of December 31, the balance sheet date, are notes payable totaling $250,000 with the Madison National Bank. These are 90-day notes, renewable for another 90-day period. These notes should be classified on the balance sheet of Daisy Company as:

deferred charges

long-term liabilities

intermediate debt

current liabilities

Reference no: EM13745845

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