On January 2,2014,Lionel Company Issued $40,000 of Notes Payable,of Which

Multiple Choice

On January 2,2014,Lionel Company issued $40,000 of notes payable,of which $10,000 is due on January 2 for each of the next four years.The proper balance sheet presentation on December 31,2014,is

A) Current Liabilities,$40,000.
B) Current Liabilities,$10,000;Long-Term Liabilities,$30,000.
C) Long-Term Liabilities,$40,000.
D) Current Liabilities,$30,000;Long-Term Liabilities,$10,000.