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How will the note be reported on the december

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Problem 1: Muffin Company issued a five-year, interest-bearing note payable for $50,000 on January 1, 2021. Each January the company is required to pay $10,000 on the note. How will this note be reported on the December 31, 2022, balance sheet?

A.) Long-term debt, $50,000
b.) Long-term debt, $30,000; Long-term debt due within one year, $10,000
c.) Long-term debt, $40,000
d.) Long-term debt of $40,000; Long-term debt due within one year, $10,000

Reference no: EM132697793

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