On December$31,2023,$ Sandy Company has a Note Receivable of

$ $5$ comma $500$$$5,500.$

The note will be collected in installments.

$ $1$ comma $100$$$1,100$

is due on December$31,2024$ and

$ $1$ comma $100$$$1,100$

is due every year after December$31,2024.$ The classification of the note on Sandy$$ Company's balance sheet at December$31,2023$ is:

Question content area bottom

Part $1$

A$.$

$ $4$ comma $400$$$4,400$

is a current asset and

$ $1$ comma $100$$$1,100$

is a

longminus$$term

asset.

B$.$

all

$ $5$ comma $500$$$5,500$

is a current asset.

C$.$

all

$ $5$ comma $500$$$5,500$

is a

longminus$$term

asset.

D$.$

$ $1$ comma $100$$$1,100$

is a current asset and

$ $4$ comma $400$$$4,400$

is a

longminus$$term

asset.