On march? 1, 2016, baker services issued a? 9% long-term notes payable for? $18,000. it is payable over a? 3-year term in? $6,000 annual principal payments on march 1 of each year plus? interest, beginning march? 1, 2017. how will the notes payable be shown on the balance sheet dated december? 31, 2016?
a.?$6,000 shown as current liability and? $12,000 shown as? long-term liability
b. the entire? $18,000 shown as? long-term liability
c.?$6,000 shown as current liability and? $18,000 shown as? long-term liability
d.?$18,000 shown as current liability only
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