Keller Company issued a five-year interest-bearing note payable for $100,000 on January 1, 2011. Each January the company is required to pay $20,000 on the note. How will this note be reported on the December 31, 2012 balance sheet?

A. Long-term Debt, $100,000
B. Long-term Debt, $80,000
C. Long-term Debt, $60,000; Long-term Debt due within one year, $20,000
D. Long-term Debt of $80,000; Long-term Debt due within one year, $20,000

Answer: C. Long-term Debt, $60,000; Long-term Debt due within one year, $20,000