Question 33 2 On March 1, 2020, Barker Services issued a 5% long-term notes payable for $28,000. It is payable over a 4-year term in $7,000 annual principal payments on March 1 of each year, plus interest, beginning March 1, 2021. How will the notes payable be shown on the balance sheet dated December 31, 2020? O $28,000 shown as current liability only O the entire $28,000 shown as long-term liability O $7,000 shown as current liability and $14,000 shown as long-term liability O $7,000 shown as current liability and $21,000 shown as long-term liability

On March 1, 2020, Barker Services issued a 5% long-term notes payable for $28,000. It is payable over a 4-year term in $7,000 annual principal payments on March 1 of each year, plus interest, beginning March 1,2021. How will the notes payable be shown on the balance shee dated December 31,2020 ? $28,000 shown as current liability only the entire $28,000 shown as long-term liability $7,000 shown as current liability and $14,000 shown as long-term liability $7,000 shown as current liability and $21,000 shown as long-term liability