Among the short-term obligations of Larsen Company as of December 31, the balance sheet date, are notes payable totaling $250,000 with the Dennison National Bank. These are 90-day notes, renewable for another 90-day period. These notes should be classified on the balance sheet of Larsen Company as:_____
a. current liabilities.
b. deferred charges.
c. long-term liabilities.
d. intermediate debt.
