On January 1, 2020, Ermler Company, a calendar-year company, issued $2000000 of notes payable, of which $500000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2020, is: O Current liabilities, $2000000. O Long-term debt, $2000000. O Current liabilities, $500000; Long-term Debt, $1000000. O Current liabilities, $500000; Long-term Debt, $1500000.