On January 1, 2020, Crane Company, a calendar-year company, issued $1100000 of notes payable, of which $275000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2020, is:
O Current liabilities, $275000; Long-term Debt, $825000.
O Current liabilities, $825000; Long-term Debt, $275000.
O Current liabilities, $1100000.
O Long-term debt, $1100000.