E13.4 (L01) (Refinancing of Short-Term Debt) The CFO for Yong Corporation is discussing with the company's chief executive officer issues related to the company's short-term obligations. Presently, both the current ratio and the acid-test ratio for the company are quite low, and the chief executive officer is wondering if any of these short-term obligations could be reclassified as long-term. The financial reporting date is December 31, 2018. Two short-term obligations were discussed, and the following action was taken by the CFO. Short-Term Obligation A: Yong has a $50,000 short-term obligation due on March 1, 2019. The CFO discussed with its lender whether the payment could be extended to March 1, 2021, provided Yong agrees to provide additional collateral. An agreement is reached on February 1, 2019, to change the loan terms to extend the obligation's maturity to March 1, 2021. The financial statements are authorized for issuance on April 1, 2019. Short-Term Obligation B: Yong also has another short-term obligation of $120,000 due on February 15, 2019. In its discussion with the lender, the lender agrees to extend the maturity date to February 1, 2020. The agreement is signed on December 18, 2018. The financial statements are authorized for issuance on March 31, 2019. Instructions Indicate how these transactions should be reported at December 31, 2018, on Yong's statement of financial position