Part I: Problem Separating current portion of long-term debt. 1. A building is purchased for $650,000 with a $200,000 down- payment and a $450,000 mortgage. The mortgage is payable at $2,500 per month plus interest. A. What amount will appear on the balance sheet as a long-term liability in the first month? $ B. What amount will appear on the balance sheet as a current liability in the first month? $