Brief Exercise 13-09 At December 31, 2020, Martinez Corporation owes $500,000 on a note payable due February 15, 2021. If Martinez had restructured the note on December 15, 2020, such that Martinez has the contractual right to defer payment of $250,000 of the note until February 15, 2022, how much of the $500,000 should be reported as a current liability at December 31, 2020? If Martinez pays off the note on February 15, 2021, and then borrows $1,000,000 on a long-term basis on March 1, how much of the $500,000 should be reported as a current liability at December 31, 2020, the end of the fiscal year?