On January 1, the unpaid balance of a company's morlyage note is $100,000. The lender requiros $1,000 per month to be paid on the principal each year Which of the following best describes how the labily lor the principal is shown on the balance sheet as of January 1 ? Select the single best answer: A $100,000 as the current liability. B $12,000 as the current liabilty and $88,000 as a long term liabiny C $100,000 as the long -term liablity and $12,000 as a curent liabiny D. $88,000 as the current liability E $112,000 as the current liability