Does the Balance Sheet show the short-term portion of long-term liabilities as Current Liabilities?
q022.style.display = ‘none’; If you enter at least the next twelve months of payments due on a long-term liability into the Accounts Payable journal, twelve months of interest will be included on the Balance Sheet (as Accounts Payable under Current Liabilities). The principle portion will be shown in the Summary of Payables and Receivables that is printed with the Balance Sheet. Dont forget to specify the principle amount when entering transactions.
