Question: At December 3 1 , 2 0 1 0 , Purest has a $ 1 million note that is due on February 2 8 ,

At December 31,2010, Purest has a $1 million note that is due on February 28,2011. Purest borrows $800,000 on February 25,2011(5-year note), uses the proceeds to pay down the $1 million note and uses other cash to pay the balance. The 2010 financial statements are issued in April, 2011. How much of the $1 million note is classified as long-term in the December 31,2010 financial statements?
Group of answer choices
$1,000,000.
$200,000.
$800,000.
$0.

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