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What amount of note payable will be shown as current portion

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Problem 1: On December 1, 2018, Modern Dining Products borrowed $84,000 on a 12%, 5-year note with annual installment payments of $16,800 plus interest due on December 1 of each succeeding year. On December 1, the principal amount was recorded as a long-term note payable. What amount of the note payable will be shown as current portion of Long-Term Note Payable on the balance sheet as of December 31, 2018? (Round your answer to nearest whole number.)

A) $16,800
B) $26,880
C) $10,080
D) $33,600

Reference no: EM132731377

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