A short-term liability is a payment that is due in 12 months or less. Hence notes payable due in six months is reported as a short-term liability.
What is a liability?
In the parlance of Accounting and Finance, a Liability is a financial obligation that the company owes to individuals, or organizations with which it has transactional or legal relationship.
Hence, it is correct to indicate that notes payable due in six months is reported as a short-term liability.
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