On December 31, 2016, a Note Payable of $180,000 Has

Multiple Choice

On December 31, 2016, a note payable of $180,000 has installments of $45,000 due yearly, beginning on December 31, 2017. On December 31, 2016, how will the note payable be reported on the balance sheet?

A) $135,000 current liability and $45,000 long-term liability
B) $180,000 long-term liability
C) $180,000 current liability
D) $45,000 current liability and $135,000 long-term liability