Current Portion of Long-Term Debt CPLTD
Definition: LTD principal due within 12 months
ModerateModerate
LTD principal due within 12 months
Common Journal Entries
| Account | Debit | Credit |
|---|---|---|
| 1. Reclassify to current | ||
| $12,000 of long-term note due within 12 months. | ||
| Notes Payable (Long-Term) | $12,000 | |
| Current Portion of Long-Term Debt | $12,000 | |
| Year-end reclassification for balance sheet presentation. | ||
DurationShort-Term
External Links
- Current portion of long-term debt — Wikipedia