On November 1, 2021, SSNL Company borrows $120,000 cash from the bank and issues a two-year, 4% note payable. SSNL must make payments of $5,000 plus interest at the end of each month. On December 31, 2021, what amount will be included in current and in non-current liabilities on the balance sheet?

Current Liabilities Non-current Liabilities

a. $60,000 $ 50,000

b. $60,000 $ 60,000

c. $10,000 $100,000

d. $50,000 $ 70,000