On August 1, 2015, Frank’s Deli purchased a new building to expand the business. The purchase price was $680,000. Frank paid $100,000 cash and issued a 4% note for the balance. Frank agreed to pay 25 semiannual payments of $23,200 on the principal plus the interest accrued from the date of the preceding payment. The semiannual payments are to be paid on the last day of December and June each year. Suppose Frank’s Deli has a December 31 year-end. How will the note be shown in the financial statements on December 31, 2015?