Exercise 13-8 On December 31, 2017, Blue Company had $1,232,000 of short-term debt in the form of notes payable due February 2, 2018. On January 21, 2018, the company issued 25,500 shares of its common stock for $48 per share, receiving $1,224,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2018, the proceeds from the stock sale, supplemented by an additional $8,000 cash, are used to liquidate the $1,232,000 debt. The December 31, 2017, balance sheet is issued on February 23, 2018. Show how the $1,232,000 of short-term debt should be presented on the December 31, 2017, balance sheet. (Enter account name only and do not provide descriptive information.) Blue Company Partial Balance Sheet December 31, 2017