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
(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, noncurrent liability, or both.