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On March 1, 2018, Barker Services issued a 5% long-term notes payable for $21,000. It is payable over a 3-year term in $7000 annual principal

On March 1, 2018, Barker Services issued a 5% long-term notes payable for $21,000. It is payable over a 3-year term in $7000 annual principal payments on March 1 of each year plus interest, beginning March 1, 2019. How will the notes payable be shown on the balance sheet dated December 31, 2018?

Select one:

A.$21,000 shown as current liability only

B.$7000 shown as current liability and $14,000 shown as long-term liability

C.the entire $21,000 shown as long-term liability

D.$7000 shown as current liability and $21,000 shown as long-term liability

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