Kananga 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, (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.
Click here for the solution: Kananga Company has these obligations at December 31
