This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: often identify current maturities of long-term debt on the balance sheet as long-term debt due within one year . At December 31, 2007, General Motors had $1,893 million of such debt. It is not necessary to prepare an adjusting entry to recognize the current maturity of long-term debt. At the balance sheet date, all obligations due within one year are classified as current, and all other obligations are classified as long-term. before you go on. .. Do it! Current Liabilities...
View Full Document
This note was uploaded on 11/08/2011 for the course ACCOUNTING ac 201 taught by Professor - during the Spring '11 term at Montgomery.
- Spring '11