On January 2,2013,Chester Company,a Calendar-Year Company,issued $80,000 of Notes Payable,of

Multiple Choice

On January 2,2013,Chester Company,a calendar-year company,issued $80,000 of notes payable,of which $20,000 is due on January 2 for each of the next four years.The proper balance sheet presentation on December 31,2013,is

A) Current Liabilities,$80,000.
B) Current Liabilities,$20,000; Long-Term Liabilities,$60,000.
C) Long-Term Liabilities,$80,000.
D) Current Liabilities,$60,000; Long-Term Liabilities,$20,000.