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At the balance sheet date, a business owes a mortgage note payable of $500,000, the terms of which provide for monthly payments of $10,000. How

At the balance sheet date, a business owes a mortgage note payable of $500,000, the terms of which provide for monthly payments of $10,000.

How should the long-term liability be classified on the balance sheet?

A. $380,000

B. $120,000

C. $490,000

D. $0

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