Included and Levi Corporations liability account balances at December 31, 2006, where the following: - 14% notes payable issued October 1, 2019, maturing - September 30, 2021 P 1,250,000 - 16% note payable issued April 1, 2004, due on April 2021 2,000,000

On December 31, 2020, the company expects to refinance P 2,000,000 by the issuance of a long-term note payable in lump sum. The refinancing of the P 2,000,000 is at the discretion of the enterprise. Levi's December 31, 2020 financial statements were issued on March 31, 2021. On January 15, 2021, the entire P 2,000,000 balance of the 60% note was refinanced the issuance of a long-term obligation payable. On December 31, 2020 balance sheet, what amount of the notes table should Levi's classify as short- term obligation?