Multiple Choice Question 101 On January 1, 2017, Pharoah Company, a calendar-year company, issued $756000 of notes payable, of which $189000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2017, is: Current liabilities, $756000. Current liabilities, $189000; Long-term Debt, $567000. Long-term debt, $756000. Current liabilities, $567000; Long-term Debt, $189000