On December 31, 2010, Irey Co. has $3,000,000 of short-term notes payable due on February 14, 2011. On February 10, 2011, Irey borrowed $1,200,000 (long-term loan) from County Bank and used $1,000,000 additional cash to liquidate $2,200,000 of the short-term notes payable. The amount of the short-term notes payable that should be reported as current liabilities on the December 31, 2010 balance sheet which is issued on March 5, 2011 is