Montavon Winery has $3 million of short-term debt at the reporting date. The company then issues $2 million of long-term debt to partly refinance this obligation after the balance sheet date but before the financial statements are issued.

How should Montavon classify its short-term debt if it follows ASPE, assuming it uses the proceeds from the long-term debt issue to liquidate $2 million of the short-term liability?