Question: Novak Corp. issued a five-year interest-bearing note payable for $ 366000 on January 1, 2019. Each January the company is required to pay $ 73000

Novak Corp. issued a five-year interest-bearing note payable for $366000 on January 1, 2019. Each January the company is required to pay $73000 on the note. How will this note be reported on the December 31, 2020, balance sheet?

Long-term debt, $293000

Long-term debt, $220000; Long-term Debt due within one year, $73000

Long-term debt, $366000

Long-term debt of $293000; Long-term Debt due within one year, $73000

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