On

(1)/(1)/2021

, Target issued

$2,000,000

of notes payable, of which

$500,000

is due on

(1)/(1)

for each of the next four years. The proper balance sheet presentation on December 31 , 2021 , is\ Current liabilities,

$500,000

; Long-term Debt,

$1,000,000

.\ Current liabilities,

$500,000

; Long-term Debt,

$1,500,000

.\ Current liabilities,

$2,000,000

.\ Long-term debt,

$2,000,000

.

On 1/1/2021, Target issued $2,000,000 of notes payable, of which $500,000 is due on 1/1 for each of the next four years. The proper balance sheet presentation on December 31 , 2021 , is Current liabilities, $500,000; Long-term Debt, $1,000,000. Current liabilities, $500,000; Long-term Debt, $1,500,000. Current liabilities, $2,000,000. Long-term debt, $2,000,000