Blocker, Inc

Multiple Choice

Blocker, Inc.had $10, 000 of notes coming due on January 10, 2011.On January 5, 2011, the company used $2, 000 of excess cash to pay off part of the note.On January 8, 2011, a refinancing was completed.The $2, 000 payment was refunded and added back to the note balance, and the note was extended for another two years.On the December 31, 2010 balance sheet, how much of the $10, 000 note should be shown as current?

A) $10, 000
B) $ 0
C) $ 8, 000
D) $ 2, 000