On December 31, 2024, Jupiter Corporation has a $1,000,000 note payable that matures July 1, 2025 (full principal amount due on this date). On
March 1, 2025, Jupiter issues 500,000 shares of common stock and intends to use the $400,000 net proceeds to pay off a portion of the note payable at
maturity. If the 2024 financial statements are issued March 10, 2025, what amount relating to the principal for this note should Jupiter report as a
current liability on the December 31, 2024 financial statements? Hint: There is an example relating to this type of scenario in the replacement excerpt reading.