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On January 1, 2025, ABC Company, a calendar-year company, issued $2,000,000 of notes payable, of which $500,000 is due on January 1 for each

On January 1, 2025, ABC Company, a calendar-year company, issued $2,000,000 of notes payable, of which $500,000 is due on January 1 for each of the next four years. What is the proper balance sheet presentation on December 31, 2025?

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