The company has a $150,000 liability at December 31, 2021, of which $30,000 of it is payable in 2022. In its December 31, 2021

Question

The company has a $150,000 liability at December 31, 2021, of which $30,000 of it is payable in 2022. In its December 31, 2021 balance sheet, the company reports the $150,000 debt as a:

$30,000 current liability and a $120.000 long-term liability in the balance sheet.
$150,000 current liability in the balance sheet.
$150,000 long-term liability in the balance sheet.
$120,000 current liability and a $30,000 long-term liability in the balance sheet.

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