On 1 March 2017,Vinnie Services Issued a 9% Long-Term Note $$\begin{array} { | c | l | l | } \hline \text { Long-term note payable } & \$ 7000 & \\\hline \text { Cash } & & 7000 \\\hline\end{array}$$

On 1 March 2017,Vinnie Services issued a 9% long-term note payable for $21,000.It is payable over a 3-year term in $7000 principal instalments on 1 March of each year,beginning 1 March 2018.Which of the following entries needs to be made at 1 March 2017?

A) $$\begin{array} { | c | l | l | } \hline \text { Long-term note payable } & \$ 7000 & \\\hline \text { Cash } & & 7000 \\\hline\end{array}$$
B) $$\begin{array} { | c | l | l | } \hline \text { Long-term note payable } & \$ 21,000 & \\\hline \text { Accounts payable } & & 21,000 \\\hline\end{array}$$
C) $$\begin{array} { | c | l | l | } \hline \text { Cash } & \$ 21,000 & \\\hline \text { Long-term note payable } & & 21,000 \\\hline\end{array}$$
D) $$\begin{array} { | c | l | l | } \hline \text { Current portion of long-term note payable } & \$ 21,000 & \\\hline \text { Long-term note payable } & & 21,000 \\\hline\end{array}$$