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Short-Term Debt Expected to Be Refinanced On December 31, 2019, Excello, Electric Company had $1 million of short-term notes payable due February 7, 2020. Excella expected to refinance these notes on a long-term basis. On January 15, 2020, the company issued bonds with a face value of $900,000 for $882,000. On January 22, 2020, the proceeds from the bond issue plus additional cash held by Excello on December 31, 2019, were used to liquidate the $1 million of short-term notes. The December 31, 2019, balance sheet is issued on February 12, 2020. Required: Prepare a partial balance sheet as of December 31, 2019, showing how the $1 million of short-term notes payable should be disclosed. EXCELLO ELECTRIC COMPANY Partial Balance Sheet December 31, 2019 Current Liabilities Notes payable Long- Term Liabilities: Notes payable Ota w