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Torpedo Co took out a bank loan on 1 April 20X0 for $10,000. It is...

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Accounting

Torpedo Co took out a bank loan on 1 April 20X0 for $10,000. It is due to be paid back in equal monthly instalments of $250, starting on 1 May 20X0. How should Torpedo Co include the loan in its statement of financial position at 30 June 20X0?

A non-current liability of $9,500

A current liability of $3,000 and a non-current liability of $7,000

A non-current liability of $10,000

A current liability of $3,000 and a non-current liability of $6,500

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