On December 31, 2014, the Wagner Company Had the Following

Multiple Choice

On December 31, 2014, the Wagner Company had the following liabilities: $\begin{array}{llcc}\$150,000& \text { Trade accounts payable} \\& \text { \( 11 \% \) note payable, maturing in equal installments of \( \$ 40,00 \) } \\ 120,000&\text { per year on December 30 through 2017 } \\& \text { \( 12 \% \) note payable, issued October 15,2014 , maturing } \\70,000& \text { Februa1y 15,20115 } \\\end{array}$
On December 31, Wagner signed a binding agreement with its bank to refinance the 12% note through February 14, 2017, at a variable interest rate. What is the amount of Wagner's current liabilities on December 31, 2014?

A) $150,000
B) $190,000
C) $230,000
D) $260,000