Among the Short-Term Obligations of Lance Company as of December

Multiple Choice

Among the short-term obligations of Lance Company as of December 31, the statement of financial position 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 statement of financial position of Lance Company as

A) current liabilities.
B) deferred charges.
C) non-current liabilities.
D) intermediate debt.