Multiple Choice Question 100 On January 1, 2017, Cullumber Company, a calendar-year company, issued $2480000 of notes payable, of which $620000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2017, is: Current liabilities, $620000; Long-term Debt, $1240000. Current liabilities, $2480000. Current liabilities, $620000; Long-term Debt, $1860000. Long-term debt, $2480000. Click if you would like to Show Work for this question: Open Show Work