On January 1. Gratian Company purchased equipment of $300,000 with a long term note payati The debt is payable in an installments of 60.000 de on December 31 of each year. At the date of purchase, how will Grandian Company report the note payable? On the date of purchase, Grandian will report the following O A $300,000 will show as notes payable in the long term liability section with no current portion OB. $60,000 as current portion of notes payable in the current ability section. The remaining $240.000 will show as anots payable in the long-term liability section Oc. $120,000 as current portion of notes payable in the current liability section. The remaining $100.000 will show as antes payable in the long term ability section OD None of the above