Question 23 (3.1 points) On January 1, 2021, Ermler Company, a calendar-year company, issued $2,000,000 of notes payable, of which $500,000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2021, is a) Current liabilities, $500,000; Long-term Debt, $1,000,000. Ob) Long-term debt, $2,000,000. c) Current liabilities, $2,000,000. d) Current liabilities, $500,000; Long-term Debt, $1,500,000