Current liabilities, Assignment | College Homework Help

On January 1, 2017, Ermler Company, a calendar-year company, issued $2,000,000 of notes payable, of which $500,000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2017, is Current liabilities, $500,000; Long-term Debt, $1,500,000. Long-term Debt $2,000,000 Current liabilities, $500,000; Long-term Debt, $1,000,000 Current liabilities, $2,000,000