A company has bonds payable that are due in 2020 for $2,000,000. This amount is being reported as a current liability in the company's classified balance sheet at December 31, 2019. On January 15, 2020, before the audit was completed for the year ended December 31, 2019, company entered into an agreement to refinance the $5,000,000 bond with a replacement long term bond for the same amount. How should this bond be reported on the classified balance sheet as at December 31, 2019? Why?