Question: If Culver refinances the obligation by issuing a long-term note on February 20, 2018 and using the proceeds to pay off the note due January

If Culver refinances the obligation by issuing a long-term note on February 20, 2018 and using the proceeds to pay off the note due January 31, how much of the $2,240,000 should be reported as a current liability at December 31, 2017?

Amount to be reported as a current liability at December 31, 2017?

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