Answer:
The note will be stated as a long term liability on the balance sheet of the company.
Explanation:
Long term liability is the financial responsibility of the business which is due for more than a year in the future. The present portion of the long term debt which is separately listed in order to provide a more accurate view of the liquidity and the ability of the company to pay the current liabilities as they become due.
Company borrowed $10,000 from bank by singing a note of 2 year. This would be considered as the long term liability.
