On January 1, 2017, Howard Corporation signed a $500,000, 6%, 5-year mortgage note that is payable in annual installments of $118,698 every January 1. On December 31, 2017, the unpaid principal balance should be reported as
A : a $118,698 current liability and a $381,302 long-term liability.
B : a $500,000 current liability.
C : a $88,698 current liability and a $411,301 long-term liability.
D : a $500,000 long-term liability.