E 9-6 Short-Term Debt Expected to Be Refinanced LO 9.3 On December 31, 2016, Excello Electric Company had $1 million of short-term notes payable due February 7, 2017. Excello expected to refinance these notes on a long-term basis. On January 15, 2017, the company issued bonds with a face value of $900,000 for $882,000. On January 22, 2017, the proceeds from the bond issue plus additional cash held by Excello on December 31, 2016, were used to liquidate the $1 million of short-term notes. The December 31, 2016, balance sheet is issued on February 12, 2017. Required: Prepare a partial balance sheet as of December 31, 2016, showing how the $1 million of short-term notes payable should be disclosed. Include an appropriate footnote for proper disclosure