On January 1, 2020, Keisler Company, a Calendar-Year Company, Issued

Multiple Choice

On January 1, 2020, Keisler Company, a calendar-year company, issued $900,000 of notes payable, of which $225,000 is due on January 1 for each of the next four years.The proper balance sheet presentation on December 31, 2020 is

A) Current liabilities, $900,000.
B) Long-term debt, $900,000.
C) Current liabilities, $225,000; Long-term Debt, $675,000.
D) Current liabilities, $675,000; Long-term Debt, $225,000.