As of December 31, 20X1, Mantua Company has the following three loans payable scheduled to be repaid in February 20X2. Loan A: Loan A is for $10,000. Mantua intends to repay Loan A when it comes due in February 20X2. In September 20X2, Mantua intends to get a new loan for $8,000 from the same bank. Loan B: Loan B is for $15,000. Mantua intends to refinance Loan B. The refinancing contract, for $18,000, will be signed in May 20X2, after the financial statements for 20X1 have been released. Loan C: Loan C is for $20,000. Mantua intends to refinance Loan C for $20,000 before it comes due in February. The actual refinancing, for $17,500, took place in January 20X2, after the end of the 20X1 fiscal year, but before the financial statements for 20X1 have been released. As of December 31, 20X1, what is the amount of TOTAL CURRENT LOANS PAYABLE for Mantua Company? $45,000 $17,500 $27,500 $25,000