At Dec 31, 2020 Burr Corp owes 500,000 on a note payable due Feb 15, 2021. If Burr restructured the note on Dec 15, 2020 such that they have the contractual right to defer payment of 250,000 of the note until Feb 15, 2022 how much of th 500,000 should be reported as a current liability on Dec 31, 2020?

I am assuming the current liability would be 250,000 (500,000 - 250,000) and that the restructured 250,000 would become noncurrent on the balance sheet as of Dec 31, 2020 since they knew about the restructuring weeks before. Would that be correct?