The JKH Company has a three$-$year loan for $$50,000$ due on April $30,$

$20$X$1,$ a four$-$year loan for $$30,000$ due on March $31,20$X$1,$ and a two$-$year

loan for $$40,000$ due on December $15,20$X$1.$ On February $1,20$X$1,$ JKH

signed an agreement to refinance the $$50,000$ loan for another three years.

When JKH released its financial statements on February $28,20$X$1,$ it was

working on an agreement to refinance the $$30,000$ loan for another four

years. JKH has refinanced the $$40,000$ loan twice before and planned to

refinance it again before the due date. Assuming JKH$\text{'}$s operating cycle is

$120$ days, how should JKH classify these loans on its balance sheet dated

December $31,20$X$0?$

The $$30,000$ loan as a current liability, the $$40,000$ loan as a current

liability, and the $$50,000$ loan as a long$-$term liability

B

The $$30,000$ loan as a current liability, the $$40,000$ loan as a long$-$

term liability, and the $$50,000$ loan as a long$-$term liability

C

The $$30,000$ loan as a current liability, the $$40,000$ loan as a current

liability, and the $$50,000$ loan as a current liability

D

The $$30,000$ loan as a long$-$term liability, the $$40,000$ loan as a long$-$

term liability, and the $$50,000$ loan as a long$-$term liability