The Blueberry Company Issued a Five-Year Interest-Bearing Note Payable for $75,000

Multiple Choice

The Blueberry Company issued a five-year interest-bearing note payable for $75,000 on January 1, 2011. Each January the company is required to pay $15,000 on the note. How will this note be reported on the December 31, 2012, balance sheet?

A) Long-term Debt, $75,000.
B) Long-term Debt, $60,000.
C) Long-term Debt, $45,000; Long-term Debt due within one year, $15,000.
D) Long-term Debt of $60,000; Long-term Debt due within one year, $15,000.