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General Accounting Discussions: Debt

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  1.  
    • CommentAuthormomma4_5
    • CommentTimeApr 2nd 2008
     
    How do you determine your short term portion of your long term debt??
    • CommentAuthorchbac
    • CommentTimeApr 2nd 2008
     
    As of Balance Sheet date (say 12/31/07), you need to look at maturity schedule of your long term liabilities and only the portion that's due before 12/31/08 is short-term liability. You could set up a separate GL and keep changing it or at B/S date, you just reclassify the portion from LT to ST.

    hope it helps.

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