If at the End of the Year, a Company Has

Multiple Choice

If at the end of the year, a company has a short-term note payable outstanding that was entered into earlier in the current year:

A) short-term notes payable and interest payable will appear on the balance sheet and interest expense will appear on the income statement.
B) short-term notes payable will appear on the balance sheet and interest expense and interest payable will appear on the income statement.
C) short-term notes payable will be the only item appearing on the balance sheet.
D) none of the above will occur.