On December 31, 2021 Sycamore Company has outstanding bonds payable with a face value of $700,000, discount on bonds payable of $60,000, and interest payable of $15,000. The bonds mature on January 1, 2025, and interest is payable on a semi-annual basis. What amounts will be reported in the current liabilities section and long-term liabilities section of the balance sheet for these bonds?

A. Current Liabilities: $15,000; Long-term liabilities: $640,000

B. Current Liabilities: $15,000; Long-term liabilities: $760,000

C. Current Liabilities: $75,000; Long-term liabilities: $700,000

D. Current Liabilities: $15,000; Long-term liabilities: $700,000