Question: On January 1 , 2 0 2 2 , Marigold Company, a calendar - year company, issued $ 1 6 0 8 0 0 0

On January 1,2022, Marigold Company, a calendar-year company, issued $1608000 of notes payable, of which $402000 is due on
January 1 for each of the next four years. Ignoring interest, the proper balance sheet presentation on December 31,2022, is
Current Liabilities, $402000; Long-term Debt, $1206000.
Current Liabilities, $804000; Long-term Debt, $804000.
Long-term Debt, $1608000.
Current Liabilities, $1608000.
On January 1,2022, Marigold Company, a calendar-year company, issued $1608000 of

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