At December 31,201 2018. 1. 7, Calypso Corporation owes $537,900 on a note payable due March 15, A. If Calypso refinances the obligation by issuing a long term note on March 14 and uses the proceeds to pay off the note due on March 15, how much of the $537,900 should be reported as a current liability on December 31, 2017? B. If Calypso pays off the note on March 15, 2018 and then borrows $1,000,000 on a long-term basis on April 1, how much of the $537,900 should be reported as a current liability on December 31, 2017