Final answer:
A Notes Payable (6 months) will be classified in the balance sheet under Current Liabilities.
Step-by-step explanation:
A Notes Payable (6 months) will be classified in the balance sheet under Current Liabilities.
Current liabilities are debts or obligations that are expected to be paid within one year or one operating cycle, whichever is longer. Examples of current liabilities include accounts payable, salaries payable, and, in this case, notes payable with a maturity of 6 months.
By classifying the Notes Payable (6 months) as a current liability, it indicates that the debt will need to be repaid within a relatively short period of time and helps provide an accurate snapshot of the company's financial position.