On December 31,2014,Ferrero Inc.borrowed $500,000 by signing a note payable.The note is for 5 years and bears interest at the rate of 8%.The note is payable in 5 yearly installments of $100,000 plus interest due at the end of every year beginning on December 31,2015.
-Which portion is classified as the long-term portion of Notes Payable at December 31,2014?

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The Answer of On December 31,2014,Ferrero Inc.borrowed $500,000 by signing a note payable.The note is for 5 years and bears interest at the rate of 8%.The note is payable in 5 yearly installments of $100,000 plus interest due at the end of every year beginning on December 31,2015.
-Which portion is classified as the long-term portion of Notes Payable at December 31,2014?