英語翻譯
The current portion of Long-term Debt
Some long-term debts ,such as mortgage loans,are payable in a series of monthly or quarterly installments.In these cases,the principal amount due within one year(or the operating)is regarded as a current liability,and the remainder of the obligation is classified as a long-term liability.
As the maturity date of a long-term liability approaches,the obligation eventually becomes due within the current period.Long-term liabilities which become payable within the coming year are reclassified in the balance sheet as current liabilities.Changing the classification of a liability does not require a journal entry;the obligation merely is shown in a different section of the balance sheet.