Question 9 of 10 View Policies Current Attempt in Progress On December 31, 2020, Headland Company has $7,053,000 of short-term debt in the form of notes payable to Gotham State Bank due in 2021. On December 28, 2020, Headland enters into a refinancing agreement with Gotham that will permit it to borrow up to 68% of the gross amount of its accounts receivable. Receivables are expected to range between a low of $6,063,000 in May to a high of $8,050,000 in October during the year 2021. The interest cost of the maturing short-term debt is 15%, and the new agreement calls for a fluctuating interest at 1% above the prime rate on notes due in 2025. Headland's December 31, 2020, balance sheet is issued on February 15, 2021. Prepare a partial balance sheet for Headland at December 31, 2020, showing how its $7,053,000 of short-term debt should be presented. (Enter account name only and do not provide descriptive information.) HEADLAND COMPANY Partial Balance Sheet December 31, 2020 Current Liabilities Notes Payable $ Long-term Debt e Textbook and Media List of Accounts Sear Attempts: 0 of 3 used