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Current portion of long-term debt (CPLTD) refers to the section of a company's balance sheet that records the total amount of long-term debt that must be paid within the current year. For example, if a company owes a total of $,, and $20, of it is due and must be paid off in the current year, it records $80, as long-term debt and $20, .
Often identified current maturities of long term debt on the balance sheet as long term debt due within one year. Face Value The amount of principal due at the maturity date.
In the first year, for example, the company is required to pay $10 million in principal, so this amount will be held in the short/current long-term debt account. The remainder of the account ($90 million) is held in the long-term liability account on the balance sheet. current liabilities are the first liabilities on the sheet. 1)notes payable 2)accounts payable and then other items in order of their magnitude. current maturities of long-term debt should be current liabilities.
Any remaining balance depletes the long-term debt account. For instance, say a business pays $50, toward the principal of a loan and there is no balance in the current debt account. The accountant debits long-term for debt . The current portion of long term debt (the amount due within one year from the balance sheet date) is presented in the current liabilities section of the balance sheet, and the remainder (the amount due longer than one year from the balance sheet date) is presented in the long term liabilities section of the balance sheet.