A company borrows $20000 on January 1, 2014 for four years at 8% interest and has to repay $5000 of principal at the end of each year. The interest is paid on June 30 and December 31 of each year. How would this information be reported on the balance sheet at March 31, 2014?

A. $400 as interest expense, and $20000 under long-term debt.

B. $400 as interest payable, $5000 as current portion of long-term debt under current liabilities, and $15000 under long-term debt.

C. $1600 as interest payable, $5000 as current portion of long-term debt under current liabilities and $15000 under current long-term debt.

D. $400 as interest payable under current liabilities and $20000 under long term debt.