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How will this note be reported on the December

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Question - Concord Luxuries Company issued a four-year interest-bearing note payable for $607000 on January 1, 2020. Each January the company is required to pay $151750 on the note. How will this note be reported on the December 31, 2021 balance sheet?

Long-term debt, $455250; Long-term debt due within one year, $151750.

Long-term debt, $455250.

Long-term debt, $607000.

Long-term debt, $303500; Long-term debt due within one year, $151750.

Reference no: EM132607506

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