Harry's Inc. issued a four-year, $75,000, non-interest-bearing note to a customer on January 1, 2016. Harry also agrees to sell inventory to the customer at reduced rates over a five-year period. Sales are to be evenly spread over the five-year period. Harry's incremental interest rate is 8%, and the present value of the note is $55,125. Refer to Exhibit 14-16. Harry's total liabilities after recording the note have increased by

$55,125

$81,000

$19,875

$75,000