On January 1, 2020, Crane Company, a calendar-year company, Issued $1960000 of notes payable, of which $490000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2020, is: Current liabilities. $490000; Long-term Debt, 5980000. Long term debt $1960000 Current liabilities, 51960000 Current liabilities, $490000; Long-term Debt, 51470000