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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...
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- Spring '11