On July 1, 2013 Avery services issued a 4% long-term note payable for $10,000. It is payable over a five-year term in $2000 principal installments on July 1 of each year. Which of the following and trees need to be made at July 1, 2013 to re-classify the current portion of the note?

a.) Long term notes payable $2000, cash $2000

b.) current portion of long term notes payable $2000, long-term notes payable $2000

c.) Long term notes payable $2000, accounts payable $2000

d.) Long term notes people $2000, current portion of long-term notes payable $2000

how do you calculate and record this????