Question 6 At the start of the current year, a company issued a $500,000 note to a bank. The company must pay the bank $100,000 plus interest each January 1 for the next five years starting at the beginning of next year. The company will report the note payable on its current year's balance sheet as Long-term debt, $500,000. Current liabilities, $400,000; Long-term Debt, $100,000. Current liabilities, $250,000; Long-term Debt, $250,000. Current liabilities, $100,000; Long-term Debt, $400,000. Current liabilities, $500,000. 10 pts * Previous

At the start of the current year, a company issued a $500,000 note to a bank. The company must pay the bank $100,000 plus interest each January 1 for the next five years starting at the beginning of next year. The company will report the note payable on its current year's balance sheet as Long-term debt, $500,000. Current tlabilities, $400,000; Long-term Debt, $100,000. Current liabilities, $250,000; Long-term Debt, $250,000. Current liabilities, $100,000; Long-term Debt, $400,000. Current liabilities, $500,000