$9,$ Multiple Choice $3\mathrm{.}75$ points

Smarter Charters, Inc. borrows $$7,000$ from the bank on $10/21/2020.$ The company agrees to pay $$10,000$ in three years $($on $10/20/2023).$ What amount should the company record as a liability on $10/21/2020?$

$$7,000$

$$8,500$

$$10,000$