On December 31, 2017, Stellar Company had $1,159,000 of short-term debt in the form of notes payable due February 2, 2018. On January 21, 2018, the company issued 25,500 shares of its common stock for $45 per share, receiving $1,147,500 proceeds after brokerage fees and other costs of issuance. On February 2, 2018, the proceeds from the stock sale, supplemented by an additional $11,500 cash, are used to liquidate the $1,159,000 debt. The December 31, 2017, balance sheet is issued on February 23, 2018.

Show how the $1,159,000 of short-term debt should be presented on the December 31, 2017, balance sheet.

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