On December 31, 2020, Martinez Company has $6,975,000 of short-term debt in the form of notes payable to Gotham State Bank due in 2021. On December 28, 2020, Martinez enters into a refinancing agreement with Gotham that will permit it to borrow up to 67% of the gross amount of its accounts receivable. Receivables are expected to range between a low of $5,983,000 in May to a high of $7,983,000 in October during the year 2021. The interest cost of the maturing short-term debt is 15%, and the new agreement calls for a fluctuating interest at 1% above the prime rate on notes due in 2025. Martinez's December 31, 2020, balance sheet is issued on February 15, 2021. Prepare a partial balance sheet for Martinez at December 31, 2020, showing how its $6,975,000 of short-term debt should be presented. (Enter account name only and do not provide descriptive information.) MARTINEZ COMPANY Partial Balance Sheet $