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Among the short-term obligations of Lance Company as of December 31, the balance sheet date,...

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Accounting

Among the short-term obligations of Lance 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 Lance Company as
Question 4 options:
current liabilities.
deferred charges.
long-term liabilities.
intermediate debt.

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