On July 1, 2013, Avery Services issued a long-term note payable for $10,000. It is payable over a 5-year term in $2,000 installments on July 1 of each succeeding year. When the note was issued, the principal amount was recorded in Long-term notes payable and a second entry was made to reclassify the current portion. How will this information be shown on the balance sheet dated December 31, 2013?

Your answer:
	$10,000 shown as current liability only
	$2,000 shown as current liability; $10,000 shown as long-term liability
	$2,000 shown as current liability; $8,000 shown as long-term liability
	The entire $10,000 shown as long-term liability